(A) In general The Secretary may make a direct or guaranteed farm operating loan for paying annual farm or ranch operating expenses of a borrower who
(i) was restructured with a write-down under section
2001 of this title;
(ii) is current on payments under a confirmed reorganization plan under chapters 11, 12, or 13 of title 11; or
(iii) received debt forgiveness on not more than 1 occasion resulting directly and primarily from a major disaster or emergency designated by the President on or after April 4, 1996, under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (
42 U.S.C.
5121 et seq.).
(B) Emergency loans The Secretary may make an emergency loan under section
1961 of this title to a borrower that
(i) on or before April 4, 1996, received not more than 1 debt forgiveness on a loan made or guaranteed under this chapter; and
(ii) after April 4, 1996, has not received debt forgiveness on a loan made or guaranteed under this chapter.
