Rural Economy Act of 1987

[AI summary unavailable — showing source text] Rural Economy Act of 1987 - Title I: General Provisions - Establishes in the Department of Agriculture a Rural Development Financing Authority, headed by an Assistant Secretary of Agriculture appointed by the President, with the advice and consent of the Senate. Authorizes appropriations for the Authority for FY 1988 and subsequent fiscal years. Authorizes appropriations for FY 1988 and subsequent fiscal years for: (1) the Rural Development Financing Authority; (2) the Rural Development Loan Fund; (3) rural infrastructure grants; (4) basic community facility needs grants; (5) local capacity building grants; (6) rural technology development; (7) one-stop rural financial and technical assistance centers; and (8) State incentive grants. Title II: Business Development - Subtitle A: General Provisions - Directs the Assistant Secretary to develop a program to provide interest rate subsidies to lenders for loans to private business enterprises in rural areas. Prescribes eligibility requirements for such subsidies. Sets forth a program of rural industrialization assistance, including: (1) direct and insured loans for private business enterprises encompassing economic and environmental impr…