; and (ii) not later than 15 days after approving the application, disburse the funds to the applicant. (D) Format The application for a covered loan shall be similar to the application used for a loan made under section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ), with additional details requested by the Administrator as necessary. (E) Application windows The Administrator shall make efforts to ensure that underserved borrowers that are eligible recipients receive covered loans, including by establishing exclusive application windows for those eligible recipients. (9) Limitation on number of loans An eligible recipient may receive not more than 2 covered loans, the requested aggregate amount of which shall not exceed the limitation on covered loan amounts described in paragraph (2)(A). (10) Waiver of prepayment penalty Notwithstanding any other provision of law, there shall be no prepayment penalty for any payment made on a covered loan. (11) United states operations A covered loan may only be used for expenses which are— (A) properly allocable to the production of income from sources within the United States (as determined under rules similar to the rules of part I of subchapter N of the Internal Revenue Code of 1986), and (B) effectively connected (as determined under rules similar to the rules section 952 of such Code) with the conduct by the eligible recipient of a trade or business within the United States (or any territory or possession of the United States) or off the coastline of the United States, including State submerged lands and territorial sea and exclusive economic zones owned by a United States entity. (e) Lenders (1) Existing PPP lenders A lender that is approved to make loans under section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) and is approved by the Administrator and the Secretary may make and approve covered loans. (2) Additional lenders The authority to make covered loans shall be extended to additional lenders determined by the Administrator and the