---
kind: "section"
citation: "13 C.F.R. § 120.450"
title: "13"
number: "120.450"
heading: "What is the Preferred Lenders Program?"
url: "https://uscodex.org/cfr/13/120.450"
---

# §120.450. What is the Preferred Lenders Program?


Under the Preferred Lenders Program (PLP), designated Lenders process, close, service, and liquidate SBA guaranteed loans with reduced requirements for documentation to and prior approval by SBA.


## Notes

### Authority

Authority: 15 U.S.C. 634(b) (6), (b) (7), (b) (14), (h), and note, 636(a), (h) and (m), 650, 687(f), 696(3) and (7), and 697(a) and (e); sec. 521, Pub. L. 114-113, 129 Stat. 2242; sec. 328(a), Pub. L. 116-260, 134 Stat. 1182.

### Source

Source: 61 FR 3235, Jan. 31, 1996, unless otherwise noted.