Union Planters Bank has been named a Preferred Lender under the Farm Lending Program of the U.S.D.A. Farm Service Agency (FSA) the highest status a lender can hold in the guaranteed lending program.  The designation includes all Union Planters Bank locations in eight states, including Tennessee, Arkansas, Illinois, Indiana, Iowa, Kentucky, Mississippi and Missouri.
  "Union Planters is proud to receive this designation from the Farm Service Agency," said Jackson W. Moore, President and Chief Operating Officer of Union Planters Corporation.  "Our bankers have a history of lending to farmers in many communities, and we view the Preferred Lending Program as an effective way to streamline the loan process for our customers."
  Farm Service Agency Administrator Keith Kelly said, "We are pleased to welcome Union Planters Bank into the Preferred Lending Program and look forward to working with them and their customers in the years ahead."
  The Preferred Lender Program was developed to reward experienced lenders by streamlining and adding flexibility to the loan application and servicing requirements, expediting loan approval and other FSA decisions, and allowing lenders to originate and service guaranteed loans the way they do other loans in their portfolio.  Lenders with "preferred" status have broad authority in making and servicing FSA guaranteed loans and can utilize their own underwriting and servicing policies.
  The Preferred Lending Program was implemented by the U.S.D.A. in February of 1999 to simplify the agency's existing farm loan program by greatly reducing the amount of paperwork needed to apply for guaranteed loan assistance.  Qualifying lenders actually make the loan to farmers, while the Farm Service Agency guarantees the loans in case of any loss.
  In addition to reduced paperwork, the FSA must inform the bank within 14 days of the issuance of a guarantee.  Union Planters, as a Preferred Lender, may also provide lines of credit for up to five years.
  The U.S. Small Business Administration ranked Union Planters the third most farm-friendly lender in the nation last year, as well as ranking it among the most friendly banks in the country to small businesses for the second consecutive year.
Union Planters Corporation, with headquarters in Memphis, Tenn., is one of the country's 30 largest banking companies with approximately $33 billion in assets and offices in Alabama, Arkansas, Florida, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas.
  "We are very pleased to have been named a Preferred Lender for the FSA," said Danny James, President & CEO of Union Planters Delta Operations.   "Our commitment to agriculture has been known throughout the Delta and we will continue to build on that commitment.  Agriculture and ag related industry are the life blood of the Delta.  We look forward to building our agricultural base."