---
kind: "section"
citation: "15 U.S.C. § 693"
title: "15"
title_heading: "Commerce and Trade"
number: "693"
heading: "Powers of Administration respecting loans; liquidation of obligations through creation of new leases, execution of subleases, and assignments of leases"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/693"
units:
  - "Chapter 14B — Small Business Investment Program"
  - "Subchapter IV–A — Guarantees"
  - "Part A — Commercial or Industrial Lease and Qualified Contract Guarantees"
---

# §693. Powers of Administration respecting loans; liquidation of obligations through creation of new leases, execution of subleases, and assignments of leases


Without limiting the authority conferred upon the [Administrator](/usc/15/662.md?p=2) and the [Administration](/usc/15/662.md?p=1) by [section 671 of this title](/usc/15/671.md), the [Administrator](/usc/15/662.md?p=2) and the [Administration](/usc/15/662.md?p=1) shall have, in the performance of and with respect to the functions, powers, and duties conferred by this part, all the authority and be subject to the same conditions prescribed in [section 634(b) of this title](/usc/15/634.md?p=b) with respect to loans, including the authority to execute subleases, assignments of lease and new leases with any [person](/usc/15/7a.md?p=6), firm, organization, or other entity, in order to aid in the liquidation of obligations of the [Administration](/usc/15/662.md?p=1) hereunder.


## Source credit

(Pub. L. 85–699, title IV, § 402, as added Pub. L. 89–117, title III, § 316(a), Aug. 10, 1965, 79 Stat. 483; amended Pub. L. 91–609, title IX, § 911(a)(2), Dec. 31, 1970, 84 Stat. 1812.)

## Notes

### Editorial Notes

### Amendments

1970—Pub. L. 91–609 substituted “part” for “title”.