Sec. 6304. Food supply chain guaranteed loans
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Section 310B of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1932 ) is amended by inserting after subsection
(e)the following: In this subsection, the term food supply chain guaranteed loan means a business and industry guaranteed loan that is made or guaranteed by the Secretary under subsection (a)(2)(A), including a guarantee described in subsection (a)(3). A food supply chain guaranteed loan may be made for the purpose of financing new investments in the start-up or expansion of projects in the United States that will increase the capacity of the food supply chain in the United States to aggregate, process, manufacture, store, transport, wholesale, or distribute food, agricultural products, or agricultural inputs. The maximum amount of a food supply chain guaranteed loan shall not exceed $40,000,000. The Secretary may guarantee a food supply chain guaranteed loan to an eligible entity for a facility that is not located in a rural area if— the primary purpose of the loan guarantee is for a facility to aggregate, process, manufacture, store, transport, wholesale, or distribute food agricultural products, or agricultural inputs for agricultural producers or processors that are located within 80 miles of the facility; the applicant demonstrates to the Secretary that the primary benefit of the loan guarantee will be to provide employment for residents of a rural area; and the total principal amount of food supply chain guaranteed loans guaranteed for a fiscal year under this paragraph does not exceed 10 percent of the total principal amount of food supply chain guaranteed loans made for the fiscal year under subsection (a)(2)(A). For each of fiscal years 2025 through 2029, the Secretary shall reserve not more than 5 percent of the funds made available to carry out subsection
(a)to carry out this subsection. Funds reserved under subparagraph
(A)for a fiscal year shall be reserved until April 1 of the fiscal year. .
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Sec. 6304
Food supply chain guaranteed loans
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