New regulations kicked in this week that will allow banks to obtain government guarantees on farm loans in 14 days or less. But officials of some smaller banks say the new Preferred Lender Program does not go far enough.

The program is administered by the Farm Service Agency, an arm of the Department of Agriculture. The agency guarantees up to 90% of a farm loan, but because of long waits for approval-often three or four months-few banks have participated on a regular basis.

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