Lending Institution Law and Legal Definition

According to 13 CFR 107.50 [Title 13 -- Business Credit and Assistance Chapter I - Small Business Administration], lending institution means a concern that is operating under regulations of a state or Federal licensing, supervising, or examining body, or whose shares are publicly traded and listed on a recognized stock exchange or NASDAQ and which has assets in excess of $ 500 million; and which, in either case, holds itself out to the public as engaged in the making of commercial and industrial loans and whose lending operations are not for the purpose of financing its own or an Associates's sales or business operations.