Examine This Report on 922 loans

It really is hereby declared to become the plan of the Congress that ample money must be built available to rural electric powered and telephone programs by way of direct, insured and guaranteed loans at fascination rates which enables them to accomplish the targets of The agricultural Electrification Act of 1936, as amended [seven U.

The Secretary may deny the request of a lender for that ensure of the bond or Take note under this segment If your Secretary establishes that—

In the event the Secretary along with the Federal Financing Bank approve these an extension, then the period of the present ensure shall also be thought of prolonged.

Resources received from a borrower to pay the payment described In this particular part shall not be derived from a loan or other financial debt obligation that's designed or confirmed via the Federal Governing administration.

(A) Harmonize broadband notification and reporting demands and develop frequent verification treatments across all federally supported broadband applications.

Subparagraph (A)(i) shall not use to the proposed assistance territory of a undertaking if a loan or financial loan promise has actually been produced less than this segment towards the applicant to offer broadband services from the proposed service territory.

(three) build and administer several pilot projects by electrical and telephone borrowers the Secretary determines are beneficial or necessary, and propose particular rural advancement tasks for rural spots;

If a borrower meets the penalty needs of paragraph (1) by rising the superb principal stability in the bank loan advance that is certainly currently being refinanced, the borrower shall come up with a payment at time with the refinancing equivalent to two.

From these sums as are from time to time made accessible by the Congress to your Secretary for this kind of intent, pursuant to segment 903 of this title, the Secretary is authorized and empowered to help make loans to persons now giving or who might hereafter present phone service in rural locations, to general public bodies now offering telephone company in rural locations also to cooperative, nonprofit, confined dividend, or mutual associations. Besides as in any other case provided by this subchapter, these types of loans shall be produced under the identical terms and conditions as are get more info presented in section 904 of this title, for the purpose of financing the advance, expansion, construction, acquisition, and operation of phone strains, facilities, or methods to furnish and boost telephone support in rural areas: Provided, however, That the Secretary, in making this sort of loans, shall give preference to persons supplying phone company in rural locations, to general public bodies now furnishing phone support in rural spots, also to cooperative, nonprofit, constrained dividend, or mutual associations.

On request of any applicant that's eligible for your financial loan below this paragraph for which cash usually are not obtainable, the applicant shall be thought of to acquire utilized for any loan below subchapter IV.

The quantity of the once-a-year payment paid for the assure of the bond or note below this portion shall be equivalent to thirty basis details of the amount of the unpaid principal of the bond or Be aware certain underneath this part.

(I) except in the discretion in the Secretary, to make an application for or get immediate or insured loans explained in clause (i) during the 180-thirty day period interval commencing over the day with the prepayment; or

Very little In this particular section limitations the authority of the Secretary to ascertain conditions and terms with respect towards the use by borrowers of your proceeds of loans built or guaranteed underneath this chapter or to take some other motion particularly approved by regulation.

When providing a grant less than this subchapter, the Secretary, at the only discretion from the Secretary, may make—