922 loans - An Overview
922 loans - An Overview
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(four) shall only make loans or loan ensures which can be observed for being financially possible Which supply suitable program Positive aspects to substantially underserved belief parts.
The Secretary shall make grants, shall make loans, and shall ensure loans to suitable entities explained in subsection (d) to provide cash for the development, improvement, or acquisition of services and gear for the provision of broadband services in rural regions.
In case the Secretary as well as the Federal Funding Lender approve these types of an extension, then the duration of the existing assurance shall also be considered prolonged.
For purposes of pinpointing irrespective of whether to deliver guidance for any challenge less than this section, the Secretary shall use standards that happen to be technologically neutral.
Notwithstanding subsection (a), a immediate or insured personal loan could possibly be pay as you go by an electric borrower in the lesser from the excellent principal equilibrium thanks thereon or even the present worth thereof discounted in the face price at maturity at the speed established with the Secretary When the borrower is definitely an electrical Business which resulted from a merger or consolidation between a borrower and a corporation which, before Oct one, 1987, pay as you go its immediate or insured loans pursuant to this part. Prepayments by a borrower hereunder shall be designed not later than a single calendar year after the successful date with the merger, consolidation, or other transaction.
In order that the Secretary has the assets required to appropriately look at the proposed ensures, the Secretary may possibly limit the volume of assures issued less than this part to 5 a year.
§922. Loans for phone provider Part Text From this kind of sums as are every now and then created accessible through the Congress into the Secretary for these kinds of objective, pursuant to area 903 of the title, the Secretary is authorized and empowered for making loans to individuals now offering or who may hereafter provide telephone company in rural places, to public bodies now providing telephone service in rural locations also to cooperative, nonprofit, confined dividend, or mutual associations.
Any assurance of a financial loan prepaid below this portion shall be entirely assignable under the provisions of portion 936 of this title and transferable. However, the Secretary may well need that any such ensure, if transfered one or assigned, be transferred or assigned to a loan or security that, if offered, will probably be grouped with nonguaranteed loans or securities and marketed in a very way in order that these sale will never unreasonably contend Along with the advertising and marketing of obligations of The us.
(ii) allocate amounts during the reserve to each Point out for each fiscal year for loans and bank loan guarantees to qualified entities in the Condition.
(B) reviewing any other source that is related to services data validation, as determined by the Secretary; and
Very little With this subsection shall Restrict the authority of your Secretary to keep the products and services of read more consultants from funds manufactured available to the Secretary or in any other case.
All proceeds in the repayment of such loans made below this segment shall be returned on the subaccount the Secretary shall maintain in accordance with sections 940c(b)(two) and 940c–two(f) of the title.
When choosing to make the most of the payment guidance authority underneath paragraph (two) the Secretary shall consider if the payment help will—
When furnishing a grant beneath this subchapter, the Secretary, at the sole discretion of the Secretary, may perhaps make—