Examine This Report on 922 loans
Examine This Report on 922 loans
Blog Article
(D) the believed quantity and proportion of provider details in the proposed provider territory without fastened broadband company, regardless of whether terrestrial or wi-fi;
(ii) has the lawful ability and authority to enter right into a contract, to comply with relevant Federal laws, and to very own and work broadband amenities, as proposed in the appliance submitted via the entity for a grant less than This system.
A penalty shall be assessed from a borrower that refinances or prepays a loan or financial loan progress, or any portion of a bank loan or progress, less than this segment. Other than as provided in paragraph (2), the penalty shall be equal to your lesser of—
(i) be performed inside of a proposed company territory in which not less than ninety per cent in the households are unserved; and
S.C. 901 et seq.], and that this kind of rural electric and telephone methods must be inspired and assisted to acquire their methods and talent to attain the monetary strength needed to allow them to fulfill their credit history requires from their unique money organizations together with other resources at realistic costs and phrases consistent with the mortgage applicant's capability to pay out and achievement of the Act's targets.
(B) The quantity of the deferment shall not exceed 50 percent of the overall price of a Neighborhood or economic enhancement challenge for which a deferment is delivered underneath this subsection.
The whole amount of a deferment under this subsection shall not exceed the sum with the principal and desire over the loans produced to a client of the borrower, as determined by the Secretary.
If a borrower fulfills the penalty demands of paragraph (one) by increasing the excellent principal stability on the financial loan progress that is definitely staying refinanced, the borrower shall come up with a payment at enough time with the refinancing equal to two.
§ 922. — Loans for rural phone service. [Legislation in outcome as of January 24, 2002] [Doc not influenced by Public Laws enacted between January 24, 2002 and December 19, 2002] [CITE: 7USC922] TITLE 7--AGRICULTURE CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE Support SUBCHAPTER II--RURAL TELEPHONE Assistance Sec. 922. Loans for rural telephone support From these kinds of sums as are on occasion created offered through the Congress into the Secretary for such intent, pursuant to area 903 of this title, the Secretary is licensed and empowered to produce loans to folks now delivering or who may hereafter deliver telephone support in rural places, to community bodies now supplying phone provider in rural locations and also to cooperative, nonprofit, minimal dividend, or mutual associations. Besides as if not provided by this subchapter, these types of loans shall be designed beneath the similar terms and conditions as are presented in portion 904 of this title, for the goal of funding the advance, expansion, development, acquisition, and operation of phone strains, services, or techniques to furnish and make improvements to telephone services in rural areas: Presented, even so, That the Secretary, in earning these kinds of loans, shall give preference to individuals supplying telephone provider in rural places, to community bodies now delivering telephone provider in rural regions, also to cooperative, nonprofit, minimal, dividend, or mutual associations: And delivered further more, That for your duration of one particular calendar year from and after October 28, 1949, applications for loans received via the Secretary from people who on Oct 28, 1949, are engaged within the Procedure of present telephone assistance in rural places shall be deemed and acted upon before motion is taken on any application received from another particular person for almost any financial loan to finance the furnishing or enhancement of phone provider to considerably get more info a similar subscribers. The Secretary in generating these loans shall, insofar as possible, acquire assurance that the phone support to become furnished or enhanced thereby will likely be manufactured accessible to the widest useful range of rural users. When it is set from the Secretary being essential so as to furnish or make improvements to telephone assistance in rural locations, such loans could be built for the improvement, expansion, building, acquisition, and Procedure of phone strains, facilities, or devices without regard to their geographical location.
The notes from the Secretary on the Secretary of your Treasury to get resources for loans less than sections 904, 905,1 and 922 of this title, and all other liabilities towards the appropriations or property in the fund in reference to electrification and telephone mortgage operations shall be liabilities on the fund, and all other obligations towards these kinds of appropriations or belongings during the fund arising out of electrification and telephone mortgage operations shall be obligations on the fund.
Besides other authority beneath relevant legislation, the Secretary shall establish published techniques for all broadband applications so that, to the utmost extent practicable, the applications are administered to—
If a borrower and the Secretary have entered into an settlement with respect to your prepayment transpiring ahead of October 21, 1992, this paragraph shall supersede any provision during the arrangement relating to the restoration of eligibility for loans underneath this chapter.
The Secretary might make or promise loans beneath this subchapter and subchapter I for cybersecurity and grid security improvements.
The Secretary shall build a software, to be often known as the "Community Link Grant System", to offer grants to qualified entities to finance broadband transmission in rural regions.