FSA Loan Rates for November 2026: 5.625% Operating, Storage Loans From 4.875%

USDA’s Farm Service Agency has set its loan interest rates for November 2026, and they took effect Nov. 1. With harvest wrapping up, cash prices under pressure and many operations weighing whether to store grain, buy equipment or refinance, the monthly rate sheet is worth a close look. Here’s what the new rates are, which programs they apply to, and how to decide whether an FSA loan fits your operation.

This article is general information, not legal, tax or financial advice. Talk with your lender, FSA county office or a farm financial advisor about your situation.

The November 2026 rates

FSA listed these rates in its Nov. 2 release:

• Direct farm operating loans: 5.625%
• Direct farm ownership loans: 6.250%
• Direct farm ownership, joint financing: 4.250%
• Farm ownership down payment loans: 2.250%
• Emergency loans (amount of actual loss): 3.750%
• Commodity loans disbursed for under a year: 5.500%
• Farm Storage Facility Loans: 4.875% for three years, 5.000% for five, 5.125% for seven or ten, and 5.250% for twelve
• Sugar storage facility loans (15 years): 5.500%

Guaranteed loans are different: they’re made by commercial lenders at rates those lenders set, with FSA backing the loan, the agency said. Rates are published monthly, so the rate you get depends on when your loan is approved or closed. Ask your county office which month’s rate will apply.

Why it matters right now

For how bankers see the farm economy this year, see our report on the 2026 ag lender survey. FSA’s direct loans are meant for producers who can’t get credit elsewhere at reasonable rates and terms, according to the agency’s farm loan overview, while storage loans have their own eligibility rules: any landowner, landlord, leaseholder, tenant or sharecropper who can show repayment ability may qualify, the storage fact sheet says. For a grain farm deciding between selling at harvest and holding bushels, a commodity loan at 5.5% can provide cash flow without forcing a sale when prices are low, which is the purpose FSA gives for that interim financing.

Operating and ownership loans: the basics

FSA’s farm loan overview lays out the main limits:

• Direct operating loans go up to $400,000 and can pay for day-to-day operating costs, machinery and equipment, small real estate repairs or improvements, and debt refinancing. Terms can’t exceed seven years, and yearly operating loans are usually paid back within a year or once the crop is marketed.
• Direct ownership loans go up to $600,000 to buy or enlarge a farm, build or improve structures, pay closing costs or fund conservation work, with terms up to 40 years.
• Guaranteed operating and ownership loans through a commercial lender can reach $2,343,000, with FSA guaranteeing up to 90% of the loss in most cases.
• Direct operating loans require relevant education, training or at least one year of farm management experience within the last five years.

Storage loans: what to know before you build

If harvest left grain on the ground or you’re paying steep commercial storage charges, the Farm Storage Facility Loan program is the one to look at. According to FSA’s fact sheet:

• You can borrow up to $500,000 per loan with at least 15% down, with terms up to 12 years depending on loan size.
• You must show storage need based on three years of production history.
• The microloan option allows up to $50,000 with 5% down, shorter terms and self-certified storage need.
• Eligible uses include new or used bins and cribs, flat storage, hay structures, handling equipment and storage and handling trucks, for a long list of commodities from corn and soybeans to hay, milk and fruits and vegetables in cold storage.
• Every application carries a nonrefundable $100 fee and is subject to an environmental evaluation.

The biggest trap: FSA says the county or state committee must approve the loan before any site preparation or construction begins, and taking delivery of equipment or starting work early may hurt your eligibility. Get the paperwork done before the bin crew shows up.

A quick checklist

• Pull your last three years of production records and current balance sheet before you call.
• Get a commercial quote too, then compare rate, term, fees and down payment side by side.
• Use the Loan Assistance Tool on farmers.gov, which FSA points producers to for a step-by-step guide.
• File storage loan applications at the FSA county office that keeps your farm’s records.
• Think about timing with taxes in mind; see our 2026 year-end farm tax planning guide before buying equipment or structures in December.

Frequently asked questions

What is the FSA direct operating loan rate for November 2026?

It is 5.625%, effective Nov. 1, 2026, according to FSA.

How much can I borrow for a grain bin through FSA?

Up to $500,000 per Farm Storage Facility Loan with at least 15% down, or up to $50,000 with 5% down under the microloan option.

Can I start building before my storage loan is approved?

FSA says no: starting site work or taking delivery of equipment before approval may hurt your eligibility.