H.R. 7426 — USDA Express Loan Act of 2026

This section revises expedited processing requirements under Section 333A(g) of the Consolidated Farm and Rural Development Act for certain Farm Service Agency (FSA) guaranteed loans and Rural Development Business and Industry (B&I) guaranteed loans by (1) replacing paragraph (1) to require a simplified application form for real estate and operating guaranteed loans not exceeding $1 million and, for complete applications originated by Preferred Certified Lenders or Certified Lenders, notification of approval or disapproval within 5 business days, with maximum guarantees of 90 percent (for loans not exceeding $125,000), 75 percent (for loans over $125,000 and not exceeding $500,000), or 50 percent (for loans over $500,000 and not exceeding $1 million); and (2) adding paragraph (2) to require an accelerated application process, to the maximum extent practicable, for B&I guaranteed loans to rural entities (i.e., under section 310B(a)(2)(A)) not exceeding $400,000, or up to $600,000 if the Secretary determines no significant increased default risk; and (3) striking subsection (h).