About 922 loans
About 922 loans
Blog Article
On the ask for on the borrower, the Secretary is authorized and directed to refinance with loans which can be insured beneath this chapter in the curiosity rates furnished in section 935 of the title any loans designed for rural electric powered and telephone amenities underneath any provision on the Consolidated Farm and Rural Improvement Act [seven U.S.C. 1921 et seq.].
(2) may perhaps waive nonduplication restrictions, matching fund necessities, or credit help prerequisites from any bank loan or grant method administered by The agricultural Utilities Services to facilitate the construction, acquisition, or enhancement of infrastructure;
A borrower that physical exercises the utmost amount solution below paragraph (one) shall, at the time of training these kinds of option, fork out a fee equal to 1 per cent of your exceptional principal harmony of this kind of financial loan or loan advance, or portion thereof, for which these kinds of option is exercised. This sort of cost shall be in addition to the penalties and also other payments expected less than subsection (b).
Of the quantities delivered to an suitable entity underneath a grant beneath the Program, the qualified entity shall use to perform paragraph (1)(B) not greater as opposed to lesser of—
(iii) the standard price of the most subscribed tier of broadband services in a very proposed provider region;
Making sure that the Secretary has the assets essential to effectively examine the proposed assures, the Secretary may possibly limit the volume of ensures issued under this portion to 5 each year.
The Secretary could waive the requirement of subparagraph (A)(ii) in almost any case by which the Secretary establishes (and sets forth the reasons for the waiver in crafting) the requirement would reduce unexpected emergency restoration of the phone technique in the applicant or bring about extreme hardship towards the applicant.
Except as supplied in subsection (b), the Secretary shall look at any percentage of a company territory that's topic to an outstanding grant arrangement in between the Secretary along with a broadband supplier to become unserved for your functions of all broadband help applications below this chapter, When the broadband services in that portion of a company territory is fewer than ten Mbps downstream transmission capability or lower than one Mbps upstream transmission ability.
The Secretary of Agriculture (referred to Within this chapter as the "Secretary") is licensed and empowered to help make loans, or refinance loans designed or assured from the Secretary less than this chapter, from the numerous States and Territories of the United States for rural electrification and for the goal of furnishing and bettering electric powered and telephone company in rural locations, as supplied in this chapter, and for the purpose of helping electrical borrowers to carry out need side administration, Strength performance and conservation plans, and on-grid and off-grid renewable energy programs.
The notes on the Secretary into the Secretary from the Treasury to obtain money for more info loans underneath sections 904, 905,one and 922 of the title, and all other liabilities against the appropriations or assets while in the fund in reference to electrification and phone loan operations shall be liabilities with the fund, and all other obligations against these kinds of appropriations or belongings within the fund arising away from electrification and phone loan operations shall be obligations from the fund.
Not lower than three although not over five percent of method level amounts out there pursuant to amounts appropriated to perform subchapter VI shall be put aside for use for—
(ii) give priority to applications for jobs to offer the maximum volume of broadband assistance to the greatest proportion of rural homes from the proposed support region discovered in the applying;
Clause (i) shall not apply In case the applicant is qualified for funding less than An additional subchapter of this chapter.
A borrower may perhaps lessen the harmony of its cushion of credit rating account only if the amount attained within the reduction is utilized to make scheduled payments on loans designed or certain beneath this chapter.