A bill to amend the Consolidated Farm and Rural Development Act.

Requires, as a condition to the granting of loans by the Secretary of Agriculture to established farmers, ranchers, or persons engaged in aquaculture who are in need of credit as the result of a natural disaster, that sufficient credit be unavailable from other sources.

Limits to $100,000 the amount of a loan which may be made at a rate of interest not higher than 5 percent in response to a natural disaster. Authorizes loans above that amount to be made at prevailing interest rates. Authorizes the Secretary to make the loan repayable within seven to 20 years if he determines that the applicant needs such a period.

Authorizes the Secretary to delegate the authority to make emergency loans under this Act to any State director of the Farmers Home Administration.

Sets forth a level of damage to normal production capacity which must be shown to qualify for a loan under this Act. Provides for subsequent loans to be made on an annual basis when the applicant's financial situation continues to be such that credit is unavailable through other sources.