MONROE - The United States Department of Agriculture (USDA) Farm Service Agency's (FSA) Farm Loan Program has named Wisconsin Community Bank and First National Bank and Trust as Preferred Lenders, the highest status lenders can hold in a guaranteed lending program.
The bank's Monroe branch is at 1717 10th St.
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 USDA 12 years ago to simplify the agency's existing farm loan program by reducing the amount of paperwork required to apply for Federal Loan Guarantees.
The bank's Monroe branch is at 1717 10th St.
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 USDA 12 years ago to simplify the agency's existing farm loan program by reducing the amount of paperwork required to apply for Federal Loan Guarantees.