New Step by Step Map For 922 loans
New Step by Step Map For 922 loans
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The Fee shall seek the advice of With all the Secretary just before offering or offering Join The united states Fund or Mobility Fund help underneath the Federal universal company help mechanisms established beneath part 254 of title 47 to serve a location with regard to which An additional entity has gained broadband help less than a mortgage or grant plan from the Division of Agriculture.
The Secretary may well deny the ask for of the lender with the guarantee of the bond or note under this section In case the Secretary decides that—
Issue to the restrictions in this section and also the provisions from the Federal Credit Reform Act of 1990 [two U.S.C. 661 et seq.], as amended, a borrower of the financial loan created by the Federal Financing Financial institution and assured beneath this chapter may well request an extension of the final maturity of your outstanding principal equilibrium of these types of mortgage or any bank loan progress thereunder.
The Secretary shall, Using the consent with the lender, composition the timetable for payment on the rate making sure that ample funds can be found to pay the subsidy expenditures for Take note or bond guarantees as supplied for in subsection (e)(2).
A borrower may well not exercising the choice underneath paragraph (one) in the situation of the loan or loan advance, or portion thereof, if the full quantity of this kind of loans for which such possibility can be exercised exceeds fifty % of your fantastic principal harmony of your loans manufactured to such borrower and certain under portion 936 of this title.
Provisions similar to those in this area click here had been contained in the following prior appropriation act:
(I) connecting, assisting with connecting, or enabling the link of retail broadband systems that serve rural areas inside the proposed service territory to the middle mile infrastructure challenge in An economical and economically competitive method;
The curiosity price on a personal loan refinanced underneath this area shall be established to become equivalent on the then existing cost of cash for the Department with the Treasury for obligations of comparable maturity to the time period chosen from the borrower pursuant to paragraph (three), besides that such amount shall not be better than seven % per annum, matter to subsection (d).
The Secretary may not have to have any applicant to get a financial loan produced beneath this subsection that's eligible for the bank loan less than paragraph (1) to get a financial loan from another source being a ailment of approving the application to the financial loan or advancing any quantity under the mortgage.
If a State will not build a approach in accordance with the requirements on the preceding sentence, the Secretary shall approve any telecommunications modernization approach to the Condition that meets the necessities that is produced by a vast majority with the borrowers of telephone loans designed below this subchapter who can be found inside the Point out.
Absolutely nothing Within this subsection shall Restrict the authority of your Secretary to keep the providers of consultants from funds made accessible to the Secretary or normally.
"(A) consider whether or not the recipient is or would be serving a location which is unserved or has service degrees beneath the minimum amount satisfactory volume of broadband support recognized below subsection (e); and
The Secretary shall establish a system for being often called the "Revolutionary Broadband Improvement Application", under which the Secretary may offer a grant, a financial loan, or each to an qualified entity for the objective of demonstrating modern broadband technologies or methods of broadband deployment that substantially reduce the cost of broadband deployment, and supply substantially quicker broadband speeds than are offered, in the rural region.
(5) provide information to electric powered and telephone borrowers below this chapter regarding the eligibility of these borrowers to make an application for economic assistance, loans, or grants from other Federal organizations and non-Federal sources to enable these borrowers to grow their rural advancement efforts; and