; (2) the borrower has not defaulted on any payment required to be made with respect to the loan to be refinanced; (3) none of the collateral for the loan to be refinanced has been converted; and (4) there is adequate security or full collateral for the loan to be refinanced. (e) Loan appraisal The Secretary may require that any appraisal made in connection with a loan made or guaranteed under this section be conducted by a specialized appraiser that uses standards that are similar to standards used for similar purposes in the private sector, as determined by the Secretary. (f) Limitations on authorization of appropriations There is authorized to be appropriated to carry out this section $100,000,000 for each of fiscal years 2021 through 2023. 7. New and expanding livestock or meat processing grants (a) In general The Secretary of Agriculture may make grants to— (1) expand, diversify, and increase competition in livestock or meat processing activities; (2) improve compliance with livestock and meat processing statutes (including the regulations issued thereunder), such as the Federal Meat Inspection Act ( 21 U.S.C. 661 ) and the Poultry Products Inspection Act ( 21 U.S.C. 454 ); (3) provide relief from financial barriers to entry into the livestock and meat processing industry; and (4) update, expand, or otherwise improve existing facilities. (b) Eligible grantees An entity shall be eligible for a grant under this section if the entity is— (1) a governmental entity; (2) a public, private, or cooperative organization organized on a for-profit or nonprofit basis; or (3) an Indian tribe on a Federal or State reservation or any other federally recognized Indian tribal group. (c) Use of funds An entity to which a grant is made under this section may use the grant funds for a livestock or meat producing business opportunity, or a new or expanded processing project, that— (1) identifies and analyzes business opportunities, including feasibility studies as required for creditworthiness