BIA-approved lenders can make loans insured under the Program in two ways, depending on the size of the loan:

1. (a) For loans in an original principal amount of up to $100,000 per borrower, the lender can make each loan in accordance with the lender's loan insurance agreement, without specific prior approval from BIA.
2. (b) For loans in an original principal amount of over $100,000, the lender must seek BIA's specific prior approval in each case. The lender must submit a loan insurance coverage application request form, together with the same information required for a loan guaranty under § 103.12, except for the information required by § 103.12(a).

3. (c) The lender must submit a loan insurance application package even for a loan of less than $100,000 if:

   1. (1) The total outstanding balance of all insured loans the lender is extending to the borrower under the Program exceeds $100,000; or
   2. (2) the lender makes a request for interest subsidy, pursuant to § 103.21.