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To amend the Consolidated Farm and Rural Development Act to support the prompt approval of certain loans and loan guarantees, and for other purposes.
Summary
The USDA Express Loan Act of 2026 accelerates the approval process for certain USDA farm and rural business loans. The bill requires the USDA to provide a simplified application form and notify lenders within 5 business days of approval or disapproval for real estate and operating loans up to $1 million. It also establishes variable guarantee percentages (50-90 percent) depending on loan size, and creates an accelerated application process for business and industry loans up to $400,000. The bill aims to speed loan processing while maintaining appropriate federal guarantee levels.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Finstad, Brad [R-MN-1] (R-MN)
1 cosponsor
- Rep. Gray, Adam [D-CA-13] (D-CA)
Actions (3)
- Mar 20, 2026 Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit. · house
- Feb 9, 2026 Referred to the House Committee on Agriculture. · house
- Feb 9, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
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). <all>
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