About 922 loans
About 922 loans
Blog Article
The Commission shall seek the advice of Using the Secretary in advance of providing or giving Connect America Fund or Mobility Fund assist under the Federal common assistance aid mechanisms established below portion 254 of title forty seven to serve a region with regard to which A further entity has gained broadband guidance beneath a bank loan or grant software of the Department of Agriculture.
(i) establish a nationwide reserve for loans and loan guarantees to suitable entities in States less than this segment; and
A lender shall not get a promise below this section for just a bond or note if, at the time of the guarantee, the entire principal amount of these confirmed bonds or notes outstanding in the lender would exceed the principal quantity of superb loans on the lender for qualified applications explained in subsection (a)(1).
The applicant might not select a term that finishes much more than 35 many years just after the beginning of the initial term the applicant selects beneath clause (i).
(B) the ask for with the borrower with the refinancing less than this section may not be denied or delayed; and
When the Secretary herein delivered for is located by the President of The us to generally be responsible of a violation of this area, he shall be faraway from office through the President, and any appointee or array of officers or employees made by the Secretary who's located responsible of the violation of this chapter shall be taken off because of the Secretary.
§922. Loans for telephone company Part Text From such sums as are every so often built offered from the Congress to your Secretary for this sort of purpose, pursuant to area 903 of the title, the Secretary is authorized and empowered for making loans to persons now delivering or who may 922 loans hereafter give phone services in rural parts, to general public bodies now offering phone company in rural places and also to cooperative, nonprofit, confined dividend, or mutual associations.
Annually, the Secretary shall post to the Congress a report that describes the extent of participation while in the broadband assistance plans administered via the Secretary for your preceding fiscal 12 months, including a description of—
The Secretary shall make insured telephone loans, to the extent of qualifying apps for your loans, at an desire charge of five % per annum, to any applicant who meets each of the subsequent specifications:
(two) payment of principal when thanks (with out interest) on exceptional loans on the Secretary with the Secretary from the Treasury for electrification and telephone needs and payment of principal and curiosity when thanks on loans towards the Secretary from your Secretary of the Treasury pursuant to section 934(a) of the title;
substituted "of which the holder had true knowledge at enough time it turned a holder" for "of which the holder has true awareness".
"(A) contemplate whether or not the recipient is or would be serving a location which is unserved or has service stages below the least acceptable standard of broadband services founded below subsection (e); and
Any element of the positioning could be changed, supplemented, deleted or up-to-date by us with or all of sudden at our sole discretion.
In the case of zero fascination loans, the Secretary shall set up such acceptable repayment phrases as will encourage borrower participation.