{"ok":true,"canonical_url":"https://dealroom.so/glossary/preferred-lenders-program","api_url":"https://dealroom.so/api/public/glossary/preferred-lenders-program","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"preferred-lenders-program","term":"Preferred Lenders Program","aka":"PLP","group":"The loan itself","definition":"The PLP allows experienced lenders to make SBA loan decisions without prior SBA review, speeding up the approval process. This means faster closing times for you.","what_it_means":"Working with a PLP lender can significantly shorten your loan's closing timeline because they have delegated authority from the SBA. This is a major advantage when you're trying to close a deal quickly. Always ask if your lender is a PLP lender.","url":"https://dealroom.so/glossary/preferred-lenders-program","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"},{"slug":"13-cfr-part-120","title":"13 CFR Part 120 — Business Loans","official_url":"https://www.ecfr.gov/current/title-13/chapter-I/part-120","official_label":"View on eCFR","authority_tier":1,"publisher":"Office of the Federal Register","source_guide_url":"https://dealroom.so/sba-7a/sources/13-cfr-part-120"}],"related":[{"slug":"plp-lender","term":"PLP lender","url":"https://dealroom.so/glossary/plp-lender"},{"slug":"delegated-authority","term":"Delegated authority","url":"https://dealroom.so/glossary/delegated-authority"},{"slug":"origination","term":"Origination","url":"https://dealroom.so/glossary/origination"},{"slug":"commitment-letter","term":"Commitment Letter","url":"https://dealroom.so/glossary/commitment-letter"}],"related_questions":[{"question":"What does 'Preferred Lender Program' (PLP) status mean for a bank?","url":"https://dealroom.so/sba-loans/basics/what-does-preferred-lender-program-plp-status-mean-for-a-bank"},{"question":"How quickly can an SBA 7(a) loan be approved if my lender is a Preferred Lender Program (PLP) participant?","url":"https://dealroom.so/sba-7a/questions/how-quickly-can-an-sba-7-a-loan-be-approved-if-my-lender-is-a-preferred-lender-program-plp"},{"question":"Are there any specific SBA fees charged to lenders for their participation in the 7(a) loan program?","url":"https://dealroom.so/for-lenders/questions/are-there-any-specific-sba-fees-charged-to-lenders-for-their-participation-in-the-7-a-loan"},{"question":"What types of lenders offer SBA 7(a) loans?","url":"https://dealroom.so/sba-loans/basics/what-types-of-lenders-offer-sba-7-a-loans"},{"question":"How is a lender's 'SBA Preferred Lender' status beneficial for the borrower?","url":"https://dealroom.so/sba-loans/basics/how-is-a-lender-s-sba-preferred-lender-status-beneficial-for-the-borrower"},{"question":"What is the role of an \"SBA Preferred Lender\" in the application process?","url":"https://dealroom.so/sba-loans/basics/what-is-the-role-of-an-sba-preferred-lender-in-the-application-process"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Preferred Lenders Program","url":"https://dealroom.so/glossary/preferred-lenders-program","source_type":"DealRoom Data"}}