1. Short title This Act may be cited as the Rural Equal Aid Act . 2. Subsidy for certain rural development loan payments (a) Definition of covered loan In this section, the term covered loan means a loan that is— (1) made by an intermediary lender to an ultimate recipient using a loan received under section 1323 of the Food Security Act of 1985 ( 7 U.S.C. 1932 note; Public Law 99–198 ) or section 310H of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1936b ; Public Law 113–79 ); (2) made by a microenterprise development organization to a microentrepreneur under section 379E of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 2008s ); (3) a community facility loan made or guaranteed under section 306(a)(1) of the Consolidated Farm and Rural Development Act; or (4) guaranteed under section 310B(g) of the Consolidated Farm and Rural Development Act. (b) Principal and interest payments (1) In general The Secretary of Agriculture (referred to in this section as the Secretary ) shall pay the principal, interest, and any associated fees that are owed on a covered loan in a regular servicing status— (A) with respect to a covered loan made before the date of enactment of this Act and not on deferment, for the 6-month period beginning with the next payment due on the covered loan; (B) with respect to a covered loan made before the date of enactment of this Act and on deferment, for the 6-month period beginning with the next payment due on the covered loan after the deferment period