An agriculture lender recently refunded $2.4 million to its eligible borrowers.
The refund is a form of profit sharing with its borrowers, said Ron O’Connor, spokesman for Farm Credit of Central Florida. The lender refunds the money on earned interest, lowering the borrower’s cost.
Farm Credit of Central Florida serves 13 central Florida counties including Hillsborough, Polk, Pasco and Pinellas. The cooperative primarily makes agricultural business loans, but it also lends money for rural housing and remodeling projects.