Meet a Farmer: An Operating Loan helped Alaska farmers Brian and Laurie Olson expand their berry operation. It can also cover farm operating costs and family living expenses while a farm gets up and running.
Operating Loans can be used to purchase livestock, seed and equipment.
#HOBBY FARM FINANCE FULL#
You can look up the current SOFR and Treasury Rates by using these links:įor a full description of the maximum interest rate rules, click here (pdf of interest rate rules out of 2-FLP). ** SOFR is the Standard Overnight Financing Rate These rules simply establish the maximum interest rates that may not be exceeded by guaranteed lenders at closing. Lenders are not required to directly price their loans on the SOFR or 5 year Treasury. *Note: If SOFR is less than 1.75%, lenders may add an additional 1% to each of the respective maximums above. Interest rates charged by guaranteed lenders at the time of closing or restructuring may not exceed the following:įor loans with rates variable or fixed for less than 5 years: The prior business day’s SOFR plus 6.75%.įor loans with rates fixed for 5 years or more: The prior business day’s 5 Year Treasury note rate plus 5.5%. In the Newsįarm Service Agency Expands Set-Aside Loan Provision for Customers Impacted by COVID-19 Current FSA Loan Interest Rates Program The Farm Service Agency offers loans to help farmers and ranchers get the financing they need to start, expand or maintain a family farm.Įxplore our programs below or visit our Farm Loan Discovery Tool to find the loan that’s right for you.
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