### Question
How is the term lender defined?


### Answer
The term **lender** is defined in *17 CFR § 1.10* as the following:

> the person who lends cash to an applicant or registrant pursuant to a subordinated loan agreement and the person who contributes a secured demand note to an applicant or registrant pursuant to a secured demand note agreement.

#### Citation:
  - *17 CFR § 1.10*
  - Heading: **PART 1—GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT**

