Pilot projects for preapproval of direct farm ownership loans

Title V — Credit › Subtitle B — Farm ownership and operating loans

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Subtitle D of the Consolidated Farm and Rural Development Act is amended by inserting after section 333D (7 U.S.C. 1983d) the following: 333E. Pilot projects The Secretary shall conduct pilot projects that use financial benchmarking and streamlined loan assessment requirements under section 360(b) to provide farmers and ranchers with a preapproval or prequalification mechanism for direct farm ownership loans under subtitle A..