A Simple Key For 922 loans Unveiled

A Simple Key For 922 loans Unveiled

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concerning prepayment of loans had been established out like a Take note less than segment 936 of the title and ended up repealed by

The Secretary, in session with the Secretary of Agriculture and the Secretary of the inside, might present grants less than this section to suitable grantees for the purpose of—

"(b) Assertion of Policy.—It's the plan from the Congress that the Rural Electrification Administration make loans that aid the development and improvement of the rural telecommunications infrastructure in order to make modern day telecommunications technological innovation and providers available at acceptable rates to the greatest practicable number of folks in rural locations in the United States."

Notwithstanding any other provision of the chapter, no prepayment high quality shall be imposed or collected with regard to that part of a financial loan that is prepaid by a borrower in accordance with subparagraph (B).

An qualified entity that gives telecommunications or broadband service to at the least twenty % in the households in The us may not acquire an degree of resources less than this part for the fiscal yr in excess of 15 percent of the cash licensed and appropriated underneath subsection (j) to the fiscal yr.

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For electrification baseload generation financial loan ensures, the Secretary shall, on the request of the borrower, charge an upfront price to deal with The prices of the loan assure.

(2) suggestions for virtually any regulatory or legislative improvements that may be proper to enhance companies to substantially underserved rely on locations.

Notwithstanding portion 661c of title 2, outside of any cash during the Treasury not in any other case appropriated, the Secretary with the Treasury shall make readily available this sort of sums as needed to include any personal loan modification prices as outlined in segment 661a of title 2.

If a Point out won't produce a prepare in accordance with the requirements of 922 loans your previous sentence, the Secretary shall approve any telecommunications modernization plan to the Point out that fulfills the requirements that's created by a vast majority of your borrowers of telephone loans built less than this subchapter who can be found inside the Point out.

The Secretary may perhaps make use of the money appropriated for your grant underneath this subchapter for the fee (as defined by part 661a of title 2) of furnishing help less than paragraph (2).

Clause (ii) shall not use to a personal loan to get produced to an applicant for the goal of furnishing or strengthening electric powered assistance to shoppers situated in an urban place (as defined because of the Bureau from the Census) if the average variety of consumers for each mile of line of the full electric technique of the applicant exceeds seventeen.

Issue to paragraph (two), for functions of the section, the minimal suitable standard of broadband company to get a rural location shall be no less than—

A bond or Be aware guaranteed below this part shall, by arrangement concerning the Secretary and the borrower—