The Director may delegate to any other official or employee of the Administration or the Program the authority to approve loans and credit enhancements under the Program, or to execute or approve any loan documents or other documents governing a loan or credit enhancement, including a commitment. The Administration may enter into contracts with third parties to make, service, or settle loans under the Program. The Administration shall reserve 20 percent of the annual amount of funds available under the Program for loans to nonprofit organizations. If sufficient applications for the reserved funds have not been received from nonprofit organizations, those funds may be made available to other loans or credit enhancements under the Program.