February 9, 2026
Mr. Finstad (for himself and Mr. Gray) introduced the following bill; which was referred to the Committee on Agriculture
To amend the Consolidated Farm and Rural Development Act to support the prompt approval of certain loans and loan guarantees, and for other purposes.
Section 1. Short title
This Act may be cited as the USDA Express Loan Act of 2026
.
Sec. 2. Prompt approval of loans and loan guarantees
Section 333A of the of the Consolidated Farm and Rural Development Act (7 U.S.C. 1983a) is amended—
(1)
in subsection (g)—
(A)
by striking paragraph (1) and inserting the following:
(1) Real estate and operating guaranteed loans
(A) In general
The Secretary shall provide to lenders a short, simplified application form for real estate and operating guaranteed loans under this title, for loans of not more than $1,000,000.
(B) Notice
Within 5 business days after receipt of a complete application to guarantee a farm ownership or operating loan that meets the requirements under subparagraph (A) originated by a Preferred Certified Lender or Certified Lender, the Secretary shall notify the lender as to whether the application is approved or disapproved.
(C) Maximum guarantee
Notwithstanding any other provision of this Act, the percentage of the principal amount of a loan which may be guaranteed pursuant to this paragraph shall not exceed—
(i)
90 percent, in the case of a loan not exceeding $125,000;
(ii)
75 percent, in the case of a loan of more than $125,000 and not more than $500,000; or
(iii)
50 percent, in the case of a loan of more than $500,000 and not more than $1,000,000.; and
(B)
by redesignating paragraphs (2) and (3) as paragraphs (3) and (4), respectively, and inserting after paragraph (1) the following:
(2) Business and industry guaranteed loans to assist rural entities
(A) In general
The Secretary shall develop an application process that accelerates, to the maximum extent practicable, the processing of applications for business and industry guaranteed loans to assist rural entities, as described under section 310B(a)(2)(A), for loans not exceeding $400,000.
(B) Exception
The accelerated application process, as provided under subparagraph (A), shall apply to loans not exceeding $600,000 if there is not a significant increased risk of a default on the loan, as determined by the Secretary. ; and
(2)
by striking subsection (h).