A bill to amend the Consolidated Farm and Rural Development Act to provide that emergency loans not to exceed $5,000 may be made and insured under such Act on the basis of estimated losses caused by disasters.

Amends the Consolidated Farm and Rural Development Act to permit emergency disaster loans of up to $5,000 to be made and insured on the basis of estimated losses.

Limits interest rates on such loans to a maximum of five percent. Allows an increase in such rates to prevailing market rates if actual disaster losses fall short of estimated losses after a loan is made or guaranteed. Requires cancellation of a loan guarantee in such an event.