; and (2) (A) carries on a farming business (within the meaning of section 263A(e)(4) of the Internal Revenue Code of 1986); or (B) conducts a commercial food processing operation that is a small business concern (as defined in section 3 of the Small Business Act ( 15 U.S.C. 632 )). (b) Establishment The Secretary shall establish a program, to be known as the Arctic Agriculture Accelerator Loan Program , to provide— (1) loans to eligible entities to start or expand a small commercial food processing operation; and (2) forgiveness of those loans in accordance with subsection (f). (c) Applications To apply for a loan under subsection (b)(1), an eligible entity shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require, including a description of activities described in subsection (d) that the eligible entity will carry out using the loan. (d) Eligible activities An eligible entity that receives a loan under subsection (b)(1) may use the loan funds for the purchase and installation of equipment, the construction or renovation of facilities, or any other activity to create or expand the capacity of the eligibility entity to process, store, or distribute locally produced food. (e) Loan amounts The amount of a loan under subsection (b)(1) shall be— (1) $150,000 in the case of an eligible entity that owns or operates, or seeks to own or operate, a small commercial food processing operation for specialty crops or grains