The Fair Credit for Farmers Act of 2023 provides relief and reforms to help economically stressed farmers access better loan terms and fairer appeals processes. The bill allows eligible farmers who are financially distressed or delinquent on their loans to defer payments for two years and extends repayment timelines by an additional two years, while reducing interest rates to zero percent during that deferment period. For historically underserved farmers—including beginning farmers, socially disadvantaged farmers, veterans, and those with limited resources—lenders must waive borrower fees on guaranteed loans for at least two years. The legislation also reforms farm loan policies by restricting the use of primary residences as collateral, requiring clearer explanations when loan applications are denied, and allowing farmers to refinance existing debt. Additionally, the bill strengthens the appeals process by shifting the burden of proof to the Department of Agriculture for farmers with adjusted gross incomes below $300,000, making it easier for struggling farmers to challenge unfavorable loan decisions. The reforms take effect upon enactment with no specific funding amount specified in the legislation.