Yes, you could do:

Sponsored Links:
<%loop link_results_loop%>
<%if isSponsored eq 'Yes'%>
<%include link.html%>
<%endif%>
<%endloop%>

Regular Links:
<%loop link_results_loop%>
<%if isSponsored eq 'No'%>
<%include link.html%>
<%endif%>
<%endloop%>

Does that make sense? Let me know if you have a question..

Cheers,

Alex

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