This bill establishes a new pilot program to provide loans and loan guarantees to beginning farmers and ranchers for long-term capital investments in their operations. The program would offer loans of up to $100,000 with repayment terms between 3 and 10 years, at interest rates between zero and 3 percent, specifically designed to fund development expenditures like equipment, infrastructure, breeding stock, branding, and business management systems. The bill recognizes that current loan programs force beginning farmers to finance multi-year investments as short-term operating loans, which limits their ability to build working capital and succeed. The Department of Agriculture must establish the pilot program within 2 years of the bill's enactment and provide comprehensive training to borrowers on farm management, bookkeeping, taxation, and risk management through existing agricultural education programs. The Secretary must also evaluate the pilot program and submit biennial reports to Congress on its performance and outcomes.