Bill > HR7426

This bill, known as the USDA Express Loan Act of 2026, aims to speed up the approval process for certain loans and loan guarantees offered by the U.S. Department of Agriculture (USDA) to support rural development. Specifically, it amends the Consolidated Farm and Rural Development Act to create a simplified, short application form for real estate and operating guaranteed loans up to $1,000,000, requiring the USDA Secretary to notify lenders of approval or disapproval within five business days for applications submitted by "Preferred Certified Lenders" or "Certified Lenders," which are entities authorized by the USDA to process loans. The bill also clarifies the maximum guarantee percentages for these loans based on their size, ranging from 90% for loans up to $125,000 down to 50% for loans between $500,000 and $1,000,000. Additionally, it mandates the development of an accelerated application process for "Business and Industry" guaranteed loans, which help rural businesses, for amounts up to $400,000, with a potential exception for loans up to $600,000 if the risk of default is not significantly increased.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/house-bill/7426/all-info