USDA Express Loan Act of 2026
Sponsored By: Representative Rep. Finstad, Brad [R-MN-1]
Introduced
Summary
Fast-tracked USDA guaranteed loans that use a simplified application and rapid decision rules to expand credit to small farms and rural businesses. The bill would create a short form for certain farm real estate and operating loans, set clear loan caps and guarantee tiers, and add a fast-track category for business and industry loans to assist rural entities.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Faster farm loan approvals
If enacted, the bill would let certain lenders use a short application for Farm Service Agency guaranteed real estate and operating loans up to $1,000,000. If the short form is complete and the lender is a Preferred Certified Lender or Certified Lender, the Secretary would have to notify the lender within 5 business days whether the loan is approved or disapproved. Guarantee shares would be capped at 90% for loans up to $125,000; 75% for loans over $125,000 up to $500,000; and 50% for loans over $500,000 up to $1,000,000.
Faster rural business loans
If enacted, the bill would require the Secretary to develop an accelerated application process for Business and Industry guaranteed loans that assist rural entities. The faster process would apply to loans not exceeding $400,000. It could also apply to loans up to $600,000 if the Secretary finds there is not a significant increased risk of default. The bill does not set exact decision deadlines or new funding for the process.
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Sponsors & CoSponsors
Sponsor
Rep. Finstad, Brad [R-MN-1]
MN • R
Cosponsors
Gray
CA • D
Sponsored 2/9/2026
Roll Call Votes
No roll call votes available for this bill.
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