CCC Raises Interest Rates for Farm Storage Facility Loans

January 2, 2014 02:47 AM
 

USDA's Commodity Credit Corporation (CCC) today announced that its borrowing rate-based charge for January 2014 will remain at 0.125%, unchanged from December. The interest rate for commodity and marketing assistance loans disbursed during January 2014 is 1.125%, also unchanged from last month.

Interest rates for Farm Storage Facility Loans approved for January 2014 are as follows:

  • 2.250% with seven-year loan terms, up from 2.000% in December
  • 2.875% with 10-year loan terms, up from 2.625% in December
  • 3.000% with 12-year loan terms, up from 2.875%

 

The interest rate for 15-year Sugar Storage Facility Loans for January 2014 is 3.375%, up from 3.125% last month. The maximum discount rate applicable for January 2014 for the Tobacco Transition Payment Program is 5%, unchanged from December. This is based on the 3.250% prime rate plus 2%, rounded to the nearest whole number.

Further program information is available from USDA Farm Service Agency's (FSA) Financial Management Division at 202-772-6041.

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