An Unbiased View of 922 loans
An Unbiased View of 922 loans
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(vi) The program ought to present for these kinds of supplemental necessities for provider criteria as may very well be necessary from the Secretary.
We reserve the appropriate to hunt all therapies at regulation As well as in equity for violations of those Stipulations, including the correct to block access to this Site from a specific IP handle.
(ii) In case the applicant is eligible for a personal loan, generate a bank loan for the applicant under this paragraph within an sum equivalent to the amount that bears the identical ratio to the total degree of loans for which the applicant is qualified under this paragraph, as the amount produced obtainable for loans below this paragraph for the fiscal 12 months bears to the total amount of money produced obtainable for loans underneath this paragraph for your fiscal calendar year.
(one) presents suitable broadband services to, within the proposed eligible company place described in the appliance submitted by the eligible entity—
(two) Aid the extended-phrase viability, sustainability, and utility of federally supported rural broadband infrastructure, by examining the complex abilities of your technologies currently available and reasonably anticipated to get readily available by 2035 to meet the broadband company requirements of rural citizens recognized below paragraph (1), which includes by analyzing the following:
Provisions similar to those in this portion were being contained in the next prior appropriation act:
The Secretary shall allow borrowers to defer payment of principal and fascination on any immediate mortgage built beneath this chapter to help the borrower to generate loans to household, industrial, and industrial people—
Yearly, the Secretary shall submit on the Congress a report that describes the extent of participation within the broadband guidance programs administered by the Secretary for that previous fiscal calendar year, which includes an outline of—
§ 922. — Loans for rural telephone company. [Guidelines in influence as of January 24, 2002] [Document not afflicted by Community Regulations enacted between January 24, 2002 and December 19, 2002] [CITE: 7USC922] TITLE seven--AGRICULTURE CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE Company SUBCHAPTER II--RURAL TELEPHONE SERVICE Sec. 922. Loans for rural phone services From such sums as are occasionally designed obtainable by the Congress to your Secretary for this sort of purpose, pursuant to part 903 of the title, the Secretary is authorized and empowered to help make loans to individuals now furnishing or who may possibly hereafter provide telephone assistance in rural locations, to community bodies now providing phone support in rural spots also to cooperative, nonprofit, restricted dividend, or mutual associations. Other than as otherwise provided by this subchapter, these kinds of loans shall be created underneath the very same terms and conditions as are furnished in part 904 of the title, for the purpose of financing the improvement, growth, development, acquisition, and Procedure of phone traces, services, or devices to furnish and improve telephone services in rural places: Presented, having said that, Which the Secretary, in making this kind of loans, shall give preference to individuals offering telephone services in rural places, to public bodies now offering telephone service in rural areas, and also to cooperative, nonprofit, constrained, dividend, or mutual associations: And presented even further, That for your period of 1 year from and after Oct 28, 1949, apps for loans acquired from the Secretary from folks who on Oct 28, 1949, are engaged inside the Procedure of current telephone company in rural parts shall be regarded and acted on in advance of action is taken on any application received from almost every other particular person for any financial loan to finance the furnishing or improvement of telephone services to substantially exactly the same subscribers. The Secretary in making this kind of loans shall, insofar as you can, obtain assurance that the phone services to generally be furnished or improved therefore will probably be designed available to the widest realistic quantity of rural buyers. When it is determined because of the Secretary to become needed to be able to furnish or strengthen phone service in rural regions, these types of loans might be manufactured for the advance, enlargement, construction, acquisition, and operation of phone lines, facilities, or techniques with no regard for their geographical locale.
On request of any applicant who is suitable to get a bank loan less than this paragraph for which resources are certainly not readily available, the applicant shall be viewed as to acquire used for any mortgage beneath subchapter IV.
(A) that describes a challenge designed to lessen the price of broadband deployment, and get more info considerably enhance broadband pace to not below the utmost 1 broadband buildout demands recognized less than section 950bb(e)(four) of the title, in the rural spot to generally be served by the project; and
A lender that gets a guarantee issued beneath this part on the bond or Be aware shall shell out a rate towards the Secretary.
The Secretary plus the applicant may perhaps jointly conform to amend the milestones and objectives agreed to under paragraph (3).
For the ask for of A non-public lender offering financing to such a borrower for a cash expense, the Secretary shall, expeditiously, either offer to share The federal government's lien to the borrower's process or offer you to subordinate the government's lien on that property financed by the non-public lender.