Congress·In Committee·H.R. 7426

USDA Loans: Faster Approval for Farmers and Rural Businesses

USDA Express Loan Act of 2026

Legislative Progress

House

Senate

President

Law

Congress is considering a bill to speed up how the government handles loans for farmers and rural business owners. It would create a shorter, simpler application for loans up to $1 million to reduce paperwork and wait times.
The Department of Agriculture would be required to tell lenders if a loan is approved or denied within five business days. This fast-track process applies to real estate and operating loans handled by certified banks and lenders.
The bill sets limits on how much of the loan the government will back if the borrower cannot pay it back. For smaller loans under $125,000, the government guarantees 90% of the money. For larger loans up to $1 million, that guarantee drops to 50%.
Rural businesses could also get faster access to money for equipment or operations. The bill speeds up the process for business loans up to $400,000, or even $600,000 if the Department of Agriculture determines the business is a low-risk borrower.
This change aims to help rural communities get the cash they need more quickly. By cutting down on red tape, farmers and small-town business owners can focus on their work instead of waiting weeks or months for a decision from the government.

2 milestones2 actions

Feb 9, 2026House

Referred to the House Committee on Agriculture.

Feb 9, 2026

Introduced in House

news_articleCenter

House Agriculture panel releases Farm Bill text and sets markup

1 bill

Farm, Food, and National Security Act of 2026

Feb 13 — Referred to the House Committee on Agriculture.

Document Type

Congressional Bill

Official Title

USDA Express Loan Act of 2026

Bill NumberHR 7426

Congress119th Congress

ChamberHouse of Representatives

Latest ActionReferred to the House Committee on Agriculture.

(1)

D: 1

Congress.gov

Official legislative information

Analysis generated by AI. Always verify with official sources.