Fair Credit for Farmers Act of 2025

This bill would require the Secretary of Agriculture to defer payments for two years on direct farm loans held by delinquent or financially distressed borrowers, extend those loans by two years, and set their interest rate at 0.125 percent during that period. It would require lenders to waive guarantee fees on guaranteed farm loans for beginning, veteran, limited resource, and socially disadvantaged farmers for at least two years. It would change farm loan rules, including limits on using a borrower's home as collateral, removing the limit on the number of years a borrower can receive loans, and allowing loans to people with past debt write-downs. It would expand when farmers can get equitable relief after agency errors. In appeals to the National Appeals Division, it would place the burden of proof on the agency when the appellant's income is $300,000 or less.

Full text and official record on Congress.gov

Sponsors

• Peter Welch Democrat sponsor
• 2 cosponsors