The best Side of 922 loans
The best Side of 922 loans
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(vi) The program will have to deliver for these kinds of more specifications for services criteria as may be demanded via the Secretary.
A borrower of the insured or guaranteed electric powered mortgage under this chapter may perhaps, devoid of restriction or prior approval from the Secretary, invest its possess funds or make loans or ensures, not in excessive of 15 percent of its total utility plant.
inserted "selected" just before "electric" in part catchline and amended textual content typically. Ahead of Modification, textual content study as follows: "The Administrator might not call for prior acceptance of, impose any prerequisite, restriction, or prohibition with regard into the functions of, or deny or hold off the granting of a lien accommodation to, any electric borrower below this chapter whose Internet value exceeds one hundred ten per cent on the superb principal equilibrium on all loans made or guaranteed to the borrower from the Administrator."
The Secretary may demand an entity to supply a cost share in an quantity not to exceed ten p.c of the quantity of the grant, financial loan, or personal loan ensure asked for in the applying from the entity, Unless of course the Secretary determines that a higher share is necessary for money feasibility.
Being a ailment of obtaining guidance below segment 950bb of the title, a recipient of help shall offer on the Secretary comprehensive, trustworthy, and precise geolocation information that implies The placement of new broadband services that's remaining delivered or upgraded within the assistance territory supported from the grant, mortgage, or loan assure not later than thirty days after the earlier of—
No sums In combination with the payment on the excellent principal harmony due to the mortgage may very well be charged as the result of these types of prepayment in opposition to the borrower, the fund, or maybe the Secretary.
In the situation of your refinancing of the financial loan of a borrower pursuant to this portion and the inclusion of a penalty within the outstanding principal harmony on the refinanced loan pursuant to subsection (b)(three)—
amended section frequently, inserting part catchline and substituting current provisions for provisions associated with resources of Secretary, which includes provisions for loans by Secretary with the Treasury, authorization of appropriations, allotment of resources for loans in States, loans of unallotted funds, and unexpended funds and limitation on use.
The Secretary of Agriculture (referred to in this chapter as the "Secretary") is licensed and empowered for making loans, or refinance loans designed or assured through the Secretary underneath this chapter, inside the numerous States and Territories of America for rural electrification and for the goal of furnishing and improving electric powered and telephone service in rural spots, as furnished With this chapter, and for the objective of helping electric borrowers to carry out desire facet management, Electrical power efficiency and conservation courses, and on-grid and off-grid renewable Vitality systems.
The notes of the Secretary to your Secretary of the Treasury to get resources for loans under sections 904, 905,1 and 922 of this title, and all other liabilities versus the appropriations or assets during the fund in reference to electrification and telephone mortgage operations shall be liabilities with the fund, and all other obligations towards these appropriations or belongings in the fund arising out of electrification and telephone loan operations shall be obligations from the fund.
Not below three but not much more than 5 percent of method degree amounts offered pursuant to quantities appropriated to execute subchapter VI shall be set aside to be used for—
(ii) give priority to purposes for initiatives to supply the maximum volume of broadband provider to the greatest proportion of rural homes while in the proposed support region discovered in the appliance;
Other than as provided in subparagraph (D), the amount of any grant designed under this area shall not exceed—
§6201(8), added subsec. (i) and struck out former subsec. (i). Just before Modification, textual content read as follows: "Notwithstanding every other provision of this chapter, the proceeds of any bank loan designed or confirmed from the Secretary below this chapter could possibly be utilized by the receiver with the personal loan for the goal of refinancing an outstanding obligation of the recipient on An additional telecommunications mortgage created beneath this chapter if the usage of the proceeds for that goal will help the construction, improvement, or acquisition of facilities read more and equipment with the provision of broadband company in rural spots."