Secondary Market Lending Authority Law and Legal Definition

According to 13 CFR 120.1800 [Title 13 -- Business Credit And Assistance; Chapter I -- Small Business Administration; Part 120 -- Business Loans; Subpart K -- Establishment Of An SBA Direct Loan Program For Systemically Important Secondary Market Broker-Dealers (SISMBD Loan Program)], Secondary Market Lending Authority means “the office established under Section 509(c) of the American Recovery and Reinvestment Act of 2009 to provide loans to systemically important SBA Secondary Market broker-dealers to be used for the purpose of financing the inventory of the government guaranteed portion of loans originated, underwritten and closed under the Small Business Act or pools of such loans.”