USDA Express Loan Act of 2026
Sponsored By: Representative Finstad, Brad [R-MN-1]
Introduced
Summary
Speeds rural loan guarantees for small farms and businesses. This bill would create short, simplified applications and set fast, predictable processing and guarantee rules to move real estate, operating, and rural business loans more quickly.
Show full summary
- Farmers and farm operators would get a short application for real estate and operating guaranteed loans up to $1,000,000 and a required notice of approval or disapproval within 5 business days for applications from Preferred Certified Lenders or Certified Lenders.
- Small rural businesses would have an accelerated path for Business and Industry guaranteed loans for rural entities for loans up to $400,000, with a risk-based exception up to $600,000 when the Secretary finds no significant added default risk.
- Preferred Certified Lenders and Certified Lenders would be able to use the expedited tracks, and guarantee rates would be tiered from 90% down to 50% as loan size increases, giving clearer coverage for smaller loans.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Faster guaranteed farm loans
If enacted, the bill would require USDA to give lenders a short, simplified application form for real estate and operating guaranteed farm loans of $1,000,000 or less. If a Preferred Certified Lender or Certified Lender submits a complete application, USDA would have to tell the lender within 5 business days whether the guarantee is approved or disapproved. The bill would set maximum guarantee percentages: 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 loan reviews
If enacted, the bill would require USDA to develop an accelerated application process for Business and Industry guaranteed loans that assist rural entities. The faster process would apply to loans of $400,000 or less. The Secretary could apply the accelerated process to loans up to $600,000 if the Secretary determines there is not a significant increased risk of default.
Sponsors & CoSponsors
Sponsor
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.
View on Congress.gov