USDA announces CCC lending rates for August

WASHINGTON, D.C. — The U.S. Department of Agriculture’s Commodity Credit Corporation has announced interest rates for August. The CCC borrowing rate-based charge for August is 2.375 percent, up from 2.250 percent in July.

The interest rate for crop year commodity loans less than one year disbursed during August is 3.375 percent, up from 3.250 percent in July.

Interest rates for Farm Storage Facility Loans approved for August are as follows, with change noted from July: 2.625 percent with three-year loan terms, no change; 2.750 percent with five-year loan terms, no change; 2.875 percent with seven-year loan terms, no change; 2.875 percent with 10-year loan terms, no change; and 2.875 percent with 12-year loan terms, down from 3.000 percent.

The loan rates set forth by the Commodity Credit Corporation help to stabilize the incomes of America’s farmers and ranchers, and ensure their continued operations.

For more information on loan eligibility and the application process, visit farmers.gov and search for “Commodity Credit Corporation.”