The 5-Second Trick For 922 loans
The 5-Second Trick For 922 loans
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To facilitate timely motion on apps by borrowers for monetary aid beneath this chapter and for approvals necessary of the Rural Electrification Administration pursuant for the phrases of excellent mortgage or stability devices or if not, the Secretary may possibly use consultants funded via the borrower, compensated for out of the final resources from the borrower, for fiscal, legal, engineering, and also other technological information and expert services in reference to the assessment of the applying by the Rural Electrification Administration.
Loans created from or insured in the fund shall be for the same applications and on precisely the same conditions and terms as are supplied for loans in subchapters I and II of this chapter other than as if not presented in sections 933 to 938 inclusive.
"(b) Assertion of Coverage.—It is the plan with the Congress that the Rural Electrification Administration make loans that aid the development and improvement of the rural telecommunications infrastructure to be able to make modern telecommunications technologies and services out there at realistic charges to the best practicable quantity of people in rural parts in The us."
The Secretary may well produce a bank loan less than this section to an emergency conversation devices provider to increase or strengthen 911 entry or other communications or systems explained in subsection (a) In the event the neighborhood govt which includes jurisdiction about the project isn't allowed to accumulate the financial debt resulting from your mortgage.
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Provisions comparable to Individuals In this particular segment had been contained in the following prior appropriation act:
§922. Loans for telephone assistance Area Text From these types of sums as are from time to time made out there with the Congress towards the Secretary for these types of purpose, pursuant to portion 903 of this title, the Secretary is approved and empowered to help make loans to individuals now furnishing or who may possibly hereafter provide phone services in rural areas, to public bodies now delivering phone service in rural spots and also to cooperative, nonprofit, restricted dividend, or mutual associations.
(2) regulate the buy or sequence of innovations of money beneath phone loans manufactured below this chapter to any borrower who's got obtained any blend of phone loans through the Secretary or even the Federal Financing Financial institution; or
Notwithstanding portion 661c of title two, out of any resources while in the check here Treasury not in any other case appropriated, the Secretary from the Treasury shall make available these types of sums as required to include any personal loan modification charges as defined in part 661a of title 2.
On ask for of any applicant who is eligible for any bank loan beneath this paragraph for which money are certainly not offered, the applicant shall be regarded as to get utilized for the loan less than subchapter IV.
Except as delivered in paragraph (2), a immediate or insured bank loan produced less than this chapter shall not be offered or pay as you go at a price that's less than the remarkable principal balance to the mortgage.
Matter to clause (ii), the interest rate explained On this subparagraph on a mortgage to the qualifying applicant shall be—
(ii) broadband support just isn't offered in any A part of the proposed services territory by three or even more incumbent provider companies.
In combination with any other funds or authorities in any other case designed out there under this chapter, the Secretary might make electric loans beneath this subchapter for electrical generation from renewable Vitality assets for resale to rural and nonrural inhabitants.