661 
‘‘(A) IN GENERAL.—Except as otherwise 
provided in this paragraph, no loan may be 
made or guaranteed under this subsection that 
exceeds $25,000,000 in principal amount. 
‘‘(B) LIMITATIONS ON LOAN GUARANTEES 
FOR COOPERATIVE ORGANIZATIONS.— 
‘‘(i) PRINCIPAL AMOUNT.—Subject to 
clause (ii), the principal amount of a busi-
ness and industry loan made to a coopera-
tive organization and guaranteed under 
this 
subsection 
shall 
not 
exceed 
$40,000,000. 
‘‘(ii) USE.—To be eligible for a guar-
antee under this subsection for a business 
and industry loan made to a cooperative 
organization, the principal amount of the 
loan in excess of $25,000,000 shall be used 
to carry out a project that is in a rural 
area and— 
‘‘(I) provides for the value-added 
processing of agricultural commod-
ities; or 
‘‘(II) significantly benefits 1 or 
more entities eligible for assistance for 
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the purposes described in paragraph 
(2), as determined by the Secretary. 
‘‘(iii) APPLICATIONS.—If a coopera-
tive organization submits an application 
for a guarantee under this paragraph, the 
Secretary shall make the determination 
whether to approve the application, and 
the Secretary may not delegate this au-
thority. 
‘‘(iv) MAXIMUM AMOUNT.—The total 
amount of business and industry loans 
made to cooperative organizations and 
guaranteed for a fiscal year under this 
subsection with principal amounts that are 
in excess of $25,000,000 may not exceed 
10 percent of the total amount of business 
and industry loans guaranteed for the fis-
cal year under this subsection. 
‘‘(5) FEES.—The Secretary may assess a 1- 
time fee and an annual renewal fee for any guaran-
teed business and industry loan in an amount that 
does not exceed 3 percent of the guaranteed prin-
cipal portion of the loan. 
‘‘(6) INTANGIBLE
ASSETS.—In determining 
whether a cooperative organization is eligible for a 
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guaranteed business and industry loan, the Sec-
retary may consider the market value of a properly 
appraised brand name, patent, or trademark of the 
cooperative. 
‘‘(7) LOAN
APPRAISALS.—The Secretary may 
require that any appraisal made in connection with 
a business and industry loan be conducted by a spe-
cialized appraiser that uses standards that are com-
parable to standards used for similar purposes in the 
private sector, as determined by the Secretary. 
‘‘(8) LOAN GUARANTEES FOR THE PURCHASE 
OF COOPERATIVE STOCK.— 
‘‘(A) IN
GENERAL.—The Secretary may 
guarantee a business and industry loan to indi-
vidual farmers to purchase capital stock of a 
farmer cooperative established for the purpose 
of processing an agricultural commodity. 
‘‘(B) PROCESSING CONTRACTS DURING INI-
TIAL PERIOD.—A cooperative described in sub-
paragraph (A) for which a farmer receives a 
guarantee to purchase stock under that sub-
paragraph may contract for services to process 
agricultural commodities or otherwise process 
value added for the period beginning on the 
date of the startup of the cooperative in order 
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to provide adequate time for the planning and 
construction of the processing facility of the co-
operative. 
‘‘(C) FINANCIAL INFORMATION.—Financial 
information required by the Secretary from a 
farmer as a condition of making a business and 
industry loan guarantee under this paragraph 
shall be provided in the manner generally re-
quired by commercial agricultural lenders in the 
applicable area. 
‘‘(9) LOANS TO COOPERATIVES.— 
‘‘(A) ELIGIBILITY.— 
‘‘(i) IN
GENERAL.—The Secretary 
may make or guarantee a business and in-
dustry loan to a cooperative organization 
that is headquartered in a metropolitan 
area if the loan is— 
‘‘(I) used for a project or venture 
described in paragraph (2) that is lo-
cated in a rural area; or 
‘‘(II) a loan guarantee that meets 
the requirements of paragraph (10). 
‘‘(ii) EQUITY.—The Secretary may 
guarantee a loan made for the purchase of 
preferred stock or similar equity issued by 
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