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USDA sets August 2021 lending rates
Interest rates for loans through USDA’s Farm Service Agency for August have been set.
The agency offers low interest loans to help producers start, maintain, or expand their farming operation, purchase equipment and buildings, and meet other cash flow needs.
Direct farm operating loans are set at 1.75%, direct farm ownership loans at 3.25% and emergency loans have a 2.75% interest rate. USDA is also offering commodity loans at a 1.125% interest rate and three-to-twelve-year farm storage facility loans with rates from 0.5% to 1.5%.
Through September 1st the disaster set-aside provision is available for direct borrowers impacted by the pandemic, allowing an upcoming annual payment to be set aside for the year and added to the final installment.
USDA reminds farmers and ag businesses that there are also several disaster and pandemic assistance options available. Click here for a list of all USDA loan options.
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