(i) a foreign entity; or 
(ii) an entity that currently processes 
over 5 percent of the daily harvest of any 
species. 
(c) SPECIAL RULES APPLICABLE WITH RESPECT TO 
COOPERATIVES.— 
(1) LIMITATION
ON
AMOUNT
OF
LOAN
IN-
VOLVED.— 
(A) IN
GENERAL.—Notwithstanding sub-
section (b)(3), a loan of not more than 
$100,000,000 may be made or guaranteed for 
a cooperative organization under this section. 
(B) CONDITIONS APPLICABLE IF LOAN IN-
VOLVED
IS
FOR
MORE
THAN
$50,000,000.—A 
loan of more than $50,000,000 may not be 
made or guaranteed for a cooperative organiza-
tion under this section unless the loan is used 
to carry out a project that— 
(i) provides for the value-added proc-
essing of agricultural commodities; or 
(ii) significantly increases competitive-
ness or increases capacity where insuffi-
cient capacity exists for livestock harvest 
or meat processing, as determined by the 
Secretary. 
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(2) INTANGIBLE ASSETS.— 
(A) IN GENERAL.—In determining whether 
a cooperative organization is eligible for a loan 
or guarantee under this section, the Secretary 
may consider the market value of a properly ap-
praised brand name, patent, or trademark of 
the cooperative. 
(B) ACCOUNTS RECEIVABLE.—In the sole 
discretion of the Secretary, if the Secretary de-
termines that the action would not create or 
otherwise contribute to an unreasonable risk of 
default or loss to the Federal Government, the 
Secretary may take accounts receivable as secu-
rity for the obligations entered into in connec-
tion with a loan made or guaranteed under this 
section, and a borrower may use accounts re-
ceivable as collateral to secure such a loan. 
(3) PURCHASE OF COOPERATIVE STOCK.— 
(A) IN
GENERAL.—The Secretary may 
make or guarantee a loan in accordance with 
this section to an individual farmer or rancher 
for the purpose of purchasing capital stock of 
a farmer or rancher cooperative established for 
the purpose of processing an agricultural com-
modity. 
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(B) PROCESSING CONTRACTS DURING INI-
TIAL PERIOD.—A cooperative described in sub-
paragraph (A) with respect to which a farmer 
or rancher receives a guarantee to purchase 
stock under subparagraph (A) may contract for 
services to process agricultural commodities or 
otherwise process value-added agricultural prod-
ucts, during the 5-year period beginning on the 
date the cooperative commences operations, in 
order to provide adequate time for the planning 
and construction of the processing facility of 
the cooperative. 
(C) FINANCIAL INFORMATION.—A farmer 
or rancher from whom the Secretary requires fi-
nancial information as a condition of making or 
guaranteeing a loan under subparagraph (A) 
shall provide the information in the manner 
generally required by commercial agricultural 
lenders in the geographical area in which the 
farmer or rancher is located. 
(d) CONDITIONS APPLICABLE WITH RESPECT
TO 
USING LOAN INVOLVED FOR REFINANCING.—A borrower 
may use 25 percent of a loan made or guaranteed under 
this section to refinance a loan made for a purpose de-
scribed in subsection (a) if— 
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(1) the borrower is current and performing with 
respect to the loan to be refinanced; 
(2) the borrower has not defaulted on any pay-
ment required to be made with respect to the loan 
to be refinanced; 
(3) none of the collateral for the loan to be refi-
nanced has been converted; and 
(4) there is adequate security or full collateral 
for the loan to be refinanced. 
(e) LOAN APPRAISAL.—The Secretary may require 
that any appraisal made in connection with a loan made 
or guaranteed under this section be conducted by a spe-
cialized appraiser that uses standards that are similar to 
standards used for similar purposes in the private sector, 
as determined by the Secretary. 
(f) LIMITATIONS ON AUTHORIZATION OF APPROPRIA-
TIONS.—There is authorized to be appropriated to carry 
out this section $100,000,000 for each of fiscal years 2021 
through 2023. 
SEC. 7. NEW AND EXPANDING LIVESTOCK OR MEAT PROC-
ESSING GRANTS. 
(a) IN GENERAL.—The Secretary of Agriculture may 
make grants to— 
(1) expand, diversify, and increase competition 
in livestock or meat processing activities; 
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(2) improve compliance with livestock and meat 
processing statutes (including the regulations issued 
thereunder), such as the Federal Meat Inspection 
Act (21 U.S.C. 661) and the Poultry Products In-
spection Act (21 U.S.C. 454); 
(3) provide relief from financial barriers to 
entry into the livestock and meat processing indus-
try; and 
(4) update, expand, or otherwise improve exist-
ing facilities. 
(b) ELIGIBLE GRANTEES.—An entity shall be eligible 
for a grant under this section if the entity is— 
(1) a governmental entity; 
(2) a public, private, or cooperative organiza-
tion organized on a for-profit or nonprofit basis; or 
(3) an Indian tribe on a Federal or State res-
ervation or any other federally recognized Indian 
tribal group. 
(c) USE OF FUNDS.—An entity to which a grant is 
made under this section may use the grant funds for a 
livestock or meat producing business opportunity, or a new 
or expanded processing project, that— 
(1) identifies and analyzes business opportuni-
ties, including feasibility studies as required for 
creditworthiness; 
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