### Question
How does AID TO SMALL BUSINESS define Preferred Lenders Program?


### Answer
Under *15 U.S.C. § 636*, **Preferred Lenders Program** is defined as:

> 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

#### Citation:
  - *15 U.S.C. § 636*
  - Heading: **CHAPTER 14A-AID TO SMALL BUSINESS**

