RURAL BUSINESS AND INDUSTRY LOAN PROGRAM.

SEC. 6010. RURAL BUSINESS AND INDUSTRY LOAN PROGRAM. (a) In General.—Section 310B(a)(2)(A) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1932(a)(2)(A)) is amended by inserting “(including through the financing of working capital)” after “employment”. (b) Greater Flexibility for Adequate Collateral Through Accounts Receivable.—Section 310B(g)(7) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1932(g)(7)) is amended— (1) by striking “In determining” and inserting the following: “(A) In general. In determining” ; and (2) by adding at the end the following: “(B) Accounts receivable. In the discretion of the Secretary, if the Secretary determines 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 security for the obligations entered into in connection with loans and a borrower may use accounts receivable as collateral to secure a loan made or guaranteed under this subsection.” . (c) [7 U.S.C. 1932 note] Regulations.—Not later than 180 days after the date of enactment of this Act, the Secretary shall promulgate such regulations as are necessary to implement the amendments made by this section.