Business or Agricultural Loans

Beginning	Fed Discount Rate	Excess	Max. Rate
3-16-20	.25%	4.50%	4.75%
3-4-20	1.75%	4.50%	6.25%
10-31-19	2.25%	4.50%	6.75%
9-19-19	2.50%	4.50%	7.00%
8-1-19	2.75%	4.50%	7.25%
12-20-18	3.00%	4.50%	7.50%
9-27-18	2.75%	4.50%	7.25%
6-14-18	2.50%	4.50%	7.00%
03-22-18	2.25%	4.50%	6.75%
12-14-17	2.00%	4.50%	6.50%
06-15-17	1.75%	4.50%	6.25%
03-16-17	1.5%	4.50%	6%
12-15-16	1.25%	4.50%	5.75%
12-17-15	1.00%	4.50%	5.50%
02-19-10	0.75%	4.50%	5.25%
12-16-08	0.50%	4.50%	5.00%
10-30-08	1.25%	4.50%	5.75%
10-08-08	1.75%	4.50%	6.25%
04-30-08	2.25%	4.50%	6.75%
03-19-08	2.50%	4.50%	7.00%
03-17-08	3.25%	4.50%	7.75%
01-31-08	3.50%	4.50%	8.00%
01-22-08	4.00%	4.50%	8.50%
12-12-07	4.75%	4.50%	9.25%
11-01-07	5.00%	4.50%	9.50%
09-18-07	5.25%	4.50%	9.75%
08-17-07	5.75%	4.50%	10.25%
06-29-06	6.25%	4.50%	10.75%
05-10-06	6.00%	4.50%	10.50%
03-28-06	5.75%	4.50%	10.25%
02-02-06	5.50%	4.50%	10.00%
12-13-05	5.25%	4.50%	9.75%
11-01-05	5.00%	4.50%	9.50%
09-20-05	4.75%	4.50%	9.25%
08-09-05	4.50%	4.50%	9.25%
06-30-05	4.25%	4.50%	6.75%
05-03-05	4.00%	4.50%	8.50%
03-22-05	3.75%	4.50%	8.25%
02-02-05	3.25%	4.50%	8.00%
12-14-04	3.25%	4.50%	7.75%
11-10-04	3.00%	4.50%	7.50%
09-21-04	2.75%	4.50%	7.25%
08-10-04	2.50%	4.50%	7.00%
06-30-04	2.25%	4.50%	6.75%
06-26-03	2.00%	4.50%	6.50%
01-09-03	2.25%	4.50%	6.75%
11-07-02	0.75%	4.50%	5.25%
12-13-01	1.25%	4.50%	5.75%
11-07-01	1.50%	4.50%	6.00%
10-03-01	2.00%	4.50%	6.50%
09-17-01	2.50%	4.50%	7.00%
08-22-01	3.00%	4.50%	7.50%
06-28-01	3.25%	4.50%	7.75%
05-17-01	3.50%	4.50%	8.00%
04-18-01	4.00%	4.50%	8.50%
03-20-01	4.50%	4.50%	9.00%
01-31-01	5.00%	4.50%	9.50%
01-04-01	5.50%	4.50%	10.00%
05-18-00	6.00%	4.50%	10.50%
03-21-00	5.50%	4.50%	10.00%
02-03-00	5.25%	4.50%	9.75%
11-18-99	5.00%	4.50%	9.50%

Note: Other factors may affect the maximum rate and a review of Minnesota Statute §334.011 should be made before relying on the rates listed above.