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HR7426119th CongressWALLET

USDA Express Loan Act of 2026

Sponsored By: Representative Finstad, Brad [R-MN-1]

In Committee

Summary

Fast, simplified USDA loan guarantees for rural farmers and businesses. This bill would create two expedited loan-guarantee pathways: one for farm real estate and operating loans up to $1 million and one for Business and Industry loans up to $400,000 or $600,000 in low-risk cases.

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  • Farmers and farm households would get a short, simplified application option for real estate and operating guaranteed loans up to $1 million. Certified lenders would receive an approval or disapproval within five business days after a complete simplified application, and loans would carry tiered guarantee rates that favor smaller loans.
  • Rural small businesses and local employers would gain an accelerated Business and Industry guarantee path for loans up to $400,000, with an allowance to extend the expedited process to $600,000 if the Secretary determines there is no significant increased default risk. This aims to speed credit for rural enterprises.
  • Participating lenders and USDA processing would be streamlined by the new separate pathway for B&I loans and by removing subsection (h) of section 333A, creating clearer rules for expedited guaranteed lending.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Faster farm loans with guarantee caps

This bill would require USDA to give lenders a short, simplified application for farm real estate and operating loans up to $1,000,000. For loans originated by a Preferred Certified Lender or Certified Lender using a complete short form, the Secretary would have to tell the lender within 5 business days whether the application is approved or disapproved. The government guarantee 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 loan processing

This bill would require USDA to develop an accelerated application process for Business and Industry guaranteed loans that help rural entities. The accelerated process would apply to loans up to $400,000. The accelerated process would also apply to loans up to $600,000 when the Secretary determines there is not a significant increased risk of default.

Sponsors & CoSponsors

Sponsor

Finstad, Brad [R-MN-1]

MN • R

Cosponsors

  • Rep. Gray, Adam [D-CA-13]

    CA • D

    Sponsored 2/9/2026

Roll Call Votes

No roll call votes available for this bill.

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