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USDA Sets Farm Loan Interest Rates
WASHINGTON - Jun 1/09 - SNS -- The USDA's Commodity Credit Corporation (CCC) today announced interest rates for June 2009.
The CCC borrowing rate-based charge for June 2009 is 0.500%, down from 0.625% in May 2009. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during June 2009 is 1.500%, down from 1.625 in May 2009.
The interest rate for Farm Storage Facility Loans approved for June 2009 is 2.625%, up from 2.375% in May 2009. The interest rate for Sugar Storage Facility Loans for June 2009 is 4.000%, up from 3.625 in May 2009.
The maximum discount rate applicable for June 2009 for the Tobacco Transition Payment Program is 5%, unchanged from May 2009. This is based on the 3.250% prime rate plus 2%, rounded to the nearest whole number.
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