Agricultural Credit Expansion Act - Amends the Consolidated Farm and Rural Development Act to expand eligibility for Farm Service Agency operating loans, farm ownership loans, conservation loans, and emergency loans.
Deems specified embedded entities (an entity owned wholly or in part by another entity) eligible for farm ownership and operating loans.
Deems specified operating-only entities eligible for farm ownership loans.
Directs the Secretary of Agriculture (USDA) to determine that an entity that is an owner-operator or operator meets the direct ownership loan requirement if it is owned in whole or in part by other entities and each individual that is an owner of the family farm involved has an ownership interest in each of the other entities.
Permits direct loans to be used to refinance Farm Service Agency loans or guaranteed loans.
Eliminates the 15-year limitation on the period operating loan borrowers are eligible for guaranteed assistance.
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