Interest rates on farm loans drop to 8.5%
Puerto Rico Farm Credit lowers short, medium-term loan rates for agribusiness, rural housing, effective March 1
For the second time in less than a month, the Puerto Rico Farm Credit ACA, (PRFC) lowered the interest rates for both agribusiness and rural housing loans.
Effective March 1, the interest rates for short and medium-term loans dropped from 9.0% to 8.5%. Similarly, after April 1, the long-term loan rates will also be reduced to 8.5%. On Feb. 1, PRFC lowered the short and medium-term loan interest rates from 9.75% to 9.0%.
This is the latest in a series of decreases dating back to a …