July 2020 Loan Interest Rates
Commodity Loans: 1.125%
Farm Storage Facility Loans:
• Years: 0.250%
• 5 Years: 0.375%
• 7 Years: 0.500%
• 10 Years: 0.750% Direct Operating Loans: 1.375%
Farm Ownership Down Payment: 1.500%
Farm Ownership Joint Financing: 2.500%
Direct Farm Ownership Loans: 2.250%
Emergency Loans Actual Loss: 2.3750%
2018 Farm Bill Changes (Farm Loans): The Direct Operating Loan limit increased to $400,000 and the Guaranteed Operating loan limit increased to $1,750,000. The Direct Farm Ownership Loan limit increased to $600,000 and the Guaranteed Farm Ownership loan limit increased to $1,750,000.
DATES TO REMEMBER:
Notice of Loss: Report loss within 15 days of occurrence all crops and grasses
Livestock Losses: File Notice of Loss the earlier of 30 calendar days of when the loss was apparent.
July 15: Deadline to report 2020 acreage report (August 14 to report without late-filing fees)
August 1: Final date to Submit COC Nominations
August 2: 2020 CRP Managed Haying and Grazing may begin, contact your local FSA office first!
August 21: CRP Soil Health and Income Protection Program SHIPP signup ends
August 28: Coronavirus Food Assistance Program (CFAP) signup ends
September 7: USDA Service Center closed in observance of Labor Day
September 30: Deadline to update PLC yields