New Jersey Farm Service Agency Announces Loan Rates for December 2019

New Jersey Farm Service Agency Announces Loan Rates for December 2019

Price Support Loans

Farm Storage Facility Loan (FSFL) Program
New: Road tractors and propane storage tanks, when part of a grain drying system, are now eligible for FSFLs. 

  • 3   year loan – 1.625%
  • 5   year loan – 1.625%
  • 7   year loan – 1.750%
  • 10 year loan – 1.875% 
  • 12 year loan – 1.875%

    FSFL Microloans are also available for the 3, 5, and 7 year terms at the 3, 5, and 7 year term rates for a maximum aggregated loan amount of $50,000 and at a reduced down payment of 5% (regular FSFL loans require 15% down and have a maximum loan amount of $500,000).

     
  •  Commodity Loan – 2.625%

Farm Loans

2018 Farm Bill Changes: The Direct Operating Loan limit increases to $400,000 and the Guaranteed Operating loan limit increases to $1,750,000. The Direct Farm Ownership Loan limit increases to $600,000,and the Guaranteed Farm Ownership loan limit increases to $1,750,000.

Download a Microloan Application and instructions

Call your local county office for additional information

USDA is an equal opportunity provider, employer and lender. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).