USDA Express Loan Act of 2026

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7426 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 7426

To amend the Consolidated Farm and Rural Development Act to support the
  prompt approval of certain loans and loan guarantees, and for other
                               purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            February 9, 2026

 Mr. Finstad (for himself and Mr. Gray) introduced the following bill;
           which was referred to the Committee on Agriculture

_______________________________________________________________________

                                 A BILL

To amend the Consolidated Farm and Rural Development Act to support the
  prompt approval of certain loans and loan guarantees, and for other
                               purposes.

    Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

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).
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