H.R. 7426

[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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