Preferred Lenders Program

(2) Level of participation in guaranteed loans.— (A) In general .— Except as provided in subparagraphs (B), (D), (E), and (F), in an agreement to participate in a loan on a deferred basis under this subsection (including a loan made under the Preferred Lenders Program), such participation by the Administration shall be equal to— (i) 75 percent of the balance of the financing outstanding at the time of disbursement of the loan, if such balance exceeds $150,000; or (ii) 85 percent of the balance of the financing outstanding at the time of disbursement of the loan, if such balance is less than or equal to $150,000. (B) Reduced participation upon request.— (i) In general .— The guarantee percentage specified by subparagraph (A) for any loan under this subsection may be reduced upon the request of the participating lender. (ii) Prohibition .— The Administration shall not use the guarantee percentage requested by a participating lender under clause (i) as a criterion for establishing priorities in approving loan guarantee requests under this subsection. (C) Interest rate under preferred lenders program.— (i) In general .— The maximum interest rate for a loan guaranteed under the Preferred Lenders Program shall not exceed the maximum interest rate, as determined by the Administration, applicable to other loans guaranteed under this subsection. (ii) Export-import bank lenders .— Any lender that is participating in the Delegated Authority Lender Program of the Export-Import Bank of the United States (or any successor to the Program) shall be eligible to participate in the Preferred Lenders Program. (iii) Preferred lenders program defined .— For purposes of this subparagraph, the term “Preferred Lenders Program” means any program established by the Administrator, as authorized under the proviso in section 634(b)(7) of this title , under which a written agreement between the lender and the Administration delegates to the lender— (I) complete authority to make and close loans with a guarantee from the Administration without obtaining the prior specific approval of the Administration; and (II) complete authority to service and liquidate such loans without obtaining the prior specific approval of the Administration for routine servicing and liquidation activities, but shall not take any actions creating an actual or apparent conflict of interest. (D) Participation under export working capital program .— In an agreement to participate in a loan on a deferred basis under the Export Working Capital Program established pursuant to paragraph (14)(A), such participation by the Administration shall be 90 percent. (E) Participation in international trade loan .— In an agreement to participate in a loan on a deferred basis under paragraph (16), the participation by the Administration may not exceed 90 percent. (F) Participation in the paycheck protection program .— In an agreement to participate in a loan on a deferred basis under paragraph (36), the participation by the Administration shall be 100 percent.

Source

15 USC § 636(a)(2)


Scoping language

For purposes of this subparagraph
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