922 loans - An Overview
922 loans - An Overview
Blog Article
The Secretary, in consultation with neighborhood governments and Federal businesses, may put into action an initiative to discover and boost The supply of eligible applications in communities in significantly underserved rely on locations.
The Secretary, in consultation Along with the Secretary of Agriculture and the Secretary of the inside, may perhaps present grants beneath this portion to suitable grantees for the goal of—
The option furnished beneath paragraph (one) shall not be readily available in the case of any bank loan or loan advance, or portion thereof, Except a prepared ask for to work out these kinds of choice is distributed towards the Secretary not later on than 1 12 months once the successful day of regulations issued to carry out the Rural Electrification Personal loan Restructuring Act of 1993.
The Secretary shall, While using the consent on the lender, composition the timetable for payment of your charge to make sure that enough resources can be found to pay for the subsidy fees for Take note or bond guarantees as presented for in subsection (e)(2).
As a way to insure coordination of electrical generation and transmission financing less than this chapter Together with the countrywide Vitality plan, the Secretary in creating or guaranteeing loans for the development, Procedure, or enlargement of creating crops or electric transmission lines or programs, shall consider these kinds of common criteria in keeping with the provisions of this chapter as could possibly be revealed through the Secretary of Electrical power.
§2(a), amended subsec. (a) commonly. Prior to amendment, subsec. (a) examine as follows: "A direct or insured bank loan produced underneath this chapter shall not be sold or prepaid at a price less than the experience price of any fantastic principal balance on these kinds of personal loan, except when offered to or prepaid because of the borrower on the lesser on the remarkable principal balance owing around the loan or even the bank loan's existing price discounted from the encounter worth at maturity at the rate set through the Administrator.
(aa) the interest amount on professional loans for the same period that afford to pay for the borrower this type of appropriate; exceeds
(4) payment to your holder of insured notes of any defaulted installment or, upon assignment of your Observe towards the Secretary at his request, the entire equilibrium owing about the Notice;
(iii) agree to finish buildout on the broadband infrastructure described in the applying by not afterwards than five yrs following the First day on which guidance underneath this area is manufactured available.
substituted ", apart from that, with respect to any financial loan" for ": Delivered, nonetheless, That with regard to any mortgage" and struck out ", and with regard to any loan produced less than segment 905 of the title, the payment of principal or desire shall not be prolonged in excess of two a long time just after this sort of payment shall became owing: And supplied even further, Which the provisions of the section shall not implement to any obligations or the safety therefor which can be held from the Reconstruction Finance Corporation under the provisions of area 903 of the title" just after "this kind of payment shall are becoming because of".
The Secretary may not demand any price or charge not expressly furnished In this particular chapter in reference to any bank loan made or assured less than this chapter.
The phrase "broadband buildout requirement" means the extent of Net support an applicant receiving aid underneath this segment need to agree, at enough time the application is finalized, to deliver for that length of any check here task-related settlement amongst the applicant as well as the Department.
(two) deobligate any awards, much less allowable charges that reveal an insufficient degree of effectiveness (such as metrics based on the Secretary) or fraudulent paying, to your extent funds with respect towards the award are available in the account regarding the program established by this subchapter;
(one) in coordination with Point out rural improvement initiatives, make grants and loans to individuals, States, political subdivisions of States, together with other entities structured underneath the laws of States to acquire, construct, extend, improve, and in any other case increase Electricity technology, transmission, or distribution services serving communities where the normal household expenditure for property Strength is no less than 275 per cent on the nationwide common residential expenditure for home energy (as based on the Electricity Data Agency utilizing The newest facts readily available);