; (VII) that is owned and controlled by an individual who has completed a term of imprisonment in a Federal, State, or local jail, or prison; or (VIII) that is owned and controlled by an individual with a disability, as that term is defined in section 3 of the Americans with Disabilities Act of 1990 ( 42 U.S.C. 12102 ). (C) Establishment There is established a Community Advantage Loan Program under which the Administration may guarantee loans made by covered institutions under this subsection, with an emphasis on loans made to small business concerns in underserved markets. (D) Program levels In fiscal year 2024 and each fiscal year thereafter, not more than 10 percent of the number of loans guaranteed under this subsection may be guaranteed under the program. (E) Grandfathering of existing lenders Any covered institution that was licensed by the Administrator as a Community Advantage small business lending company during the period beginning on May 1, 2023, and ending on October 31, 2023, or that participated in the Community Advantage Pilot Program of the Administration, and was in good standing, as determined by the Administration— (i) shall be designated as participants in the program; (ii) shall not be required to submit an application to participate in the program; and (iii) for the purpose of determining the loan loss reserve amount of the covered institution, shall have participation in the Community Advantage Pilot Program included in the calculation under subparagraph (J). (F) Requirement to make loans to underserved markets Not less than 60 percent of loans made by a covered institution under the program shall consist of loans made to small business concerns in underserved markets. (G) Maximum loan amount