922 loans No Further a Mystery
922 loans No Further a Mystery
Blog Article
The Secretary may well make insured telephone loans to the acquisition, buy, and set up of telephone strains, programs, and services (aside from structures utilized largely for administrative applications, vehicles not applied mainly in construction, and customer premise gear) linked to the furnishing, improvement, or extension of rural telecommunications service, at an desire charge equivalent for the then recent Price tag of money to the Government of The usa for loans of comparable maturity, although not in excess of 7 percent per year, to any applicant for any financial loan who meets the next necessities:
(i) create a nationwide reserve for loans and personal loan guarantees to suitable entities in States underneath this area; and
In addition to hardship loans that are created less than subparagraph (A), the Secretary may perhaps make an insured electric loan at an interest price of five p.c annually to an applicant for any loan if, in the sole discretion from the Secretary, the applicant has knowledgeable a significant hardship.
To get eligible for the grant below this section, In combination with the necessities of subsection (d), the venture that's the topic from the grant shall—
In order to insure coordination of electric powered era and transmission financing underneath this chapter While using the nationwide Power plan, the Secretary in creating or guaranteeing loans for the construction, operation, or enlargement of generating crops or electric transmission traces or units, shall take into account such normal criteria per the provisions of the chapter as may very well be published through the Secretary of Electricity.
(B) any place inside of a services location of a borrower for which a borrower has An excellent bank loan built under subchapters I by means of V as with the date of enactment of this paragraph.
§922. Loans for telephone support Segment Text From this kind of sums as are on occasion created accessible via the Congress on the Secretary for this kind of intent, pursuant to area 903 of the title, the Secretary is authorized and empowered for making loans to persons now giving or who might hereafter present phone support in rural spots, to public bodies now giving phone service in rural regions also to cooperative, nonprofit, confined dividend, or mutual associations.
inserted at end "The Administrator may well not request any applicant for an electric personal loan below this chapter to submit an application for and accept a mortgage in an total exceeding thirty per cent from the credit score demands of your applicant."
(ii) allocate quantities while in the reserve to each Condition for each fiscal 12 months for loans and mortgage assures to qualified entities in the Condition.
Vitality era, transmission, and distribution amenities effectiveness grants and loans in rural communities with exceptionally large Electricity charges.
The Secretary may perhaps use the cash 922 loans appropriated for any grant below this subchapter for the cost (as outlined by segment 661a of title two) of offering assistance less than paragraph (two).
The proceeds of guidance furnished less than this portion may be utilized to execute a challenge in a proposed service territory provided that, as of your day the appliance for support beneath this area is submitted, There exists not ample middle mile infrastructure accessible to aid broadband company for suitable rural communities that could be presented entry to the middle mile infrastructure.
The purpose of this portion would be to inspire the enlargement and extension of middle mile broadband infrastructure to connect underserved rural places towards the spine of the Internet.
(three) be the cause, right or indirectly, of imposing any need or restriction around the borrower for a condition in the aid, except this sort of prerequisites or restrictions as are required to carry out a debt restructuring agreed on by the ability provide borrower and the Government.