What lenders are eligible under the Program?

§ 103.10 What lenders are eligible under the Program? (a) Except as specified in paragraph (b) of this section, a lender is eligible under the Program, and may be considered for BIA approval, if the lender is: (1) Regularly engaged in the business of making loans; (2) Capable of evaluating and servicing loans in accordance with reasonable and prudent industry standards; and (3) Otherwise reasonably acceptable to BIA. (b) The following lenders are not qualified to issue loans under the Program: (1) An agency or instrumentality of the Federal Government; (2) A lender that borrows money from any Federal Government source, other than the Federal Reserve Bank System, for purposes of relending; (3) A lender that does not include the interest on loans it makes in gross income, for purposes of chapter 1, title 26 of the United States Code; and (4) A lender that does not keep any ownership interest in loans it originates.