A Simple Key For 922 loans Unveiled

A Simple Key For 922 loans Unveiled

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(vi) The plan need to present for such further necessities for company requirements as could be necessary with the Secretary.

(i) establish a national reserve for loans and financial loan ensures to suitable entities in States less than this section; and

In awarding assistance less than this area, the Secretary shall give priority to proposals for assignments that—

(ii) in periodic installments of interest and, at the conclusion of the time period from the bond or Be aware, as applicable, with the repayment of your excellent principal; or

From these sums as are occasionally designed obtainable by the Congress to your Secretary for this sort of purpose, pursuant to area 903 of the title, the Secretary is licensed and empowered to generate loans to folks now supplying or who may well hereafter offer telephone company in rural places, to community bodies now providing telephone provider in rural spots and to cooperative, nonprofit, restricted dividend, or mutual associations. Other than as otherwise provided by this subchapter, these kinds of loans shall be built under the same terms and conditions as are furnished in area 904 of the title, for the goal of funding the advance, enlargement, design, acquisition, and Procedure of phone traces, services, or devices to furnish and improve phone company in rural regions: Furnished, however, Which the Secretary, in earning such loans, shall give desire to folks furnishing phone assistance in rural parts, to community bodies now offering telephone service in rural spots, and also to cooperative, nonprofit, minimal dividend, or mutual associations.

(v) The plan should deliver for uniform deployment schedules in order that advanced products and services are deployed simultaneously in rural and nonrural places.

§922. Loans for phone assistance Part Textual content From these types of sums as are once in a while produced out there via the Congress for the Secretary for this kind of reason, pursuant to area 903 of the title, the Secretary is authorized and empowered to create loans to folks now furnishing or who might hereafter deliver telephone support in rural locations, to public bodies now giving phone assistance in rural parts and to cooperative, nonprofit, restricted dividend, or mutual associations.

licensed assignment of guaranteed loans and their similar guarantees and inserted "to begin with" prior to "designed, held, and serviced" in provision defining guaranteed loans as that phrase is made use of On this subchapter.

A borrower which includes pay as you go an insured or immediate financial loan shall remain suitable for aid underneath this chapter in a similar way as other borrowers, besides that—

(3) payment of amounts to which the holder of notes is entitled on insured loans: Supplied, That payments apart from last payments need not be remitted to the holder until finally because of or right up until the following agreed annual, semiannual, or quarterly remittance day;

The level of the yearly price paid for your guarantee of the bond or Observe beneath this segment shall be equivalent to thirty basis details of the quantity of the unpaid principal in the bond or note confirmed beneath this segment.

The proceeds of guidance delivered below this part may be utilized to carry out a project within a proposed provider territory only if, as in the day the applying for assistance under this section is submitted, There is certainly not ample middle mile infrastructure accessible to aid broadband company for qualified rural communities that might be supplied access to the center mile infrastructure.

Clause (i) shall not apply When the applicant is eligible for funding beneath A different subchapter of the chapter.

(three) be the bring about, specifically or indirectly, of imposing any prerequisite or restriction to the borrower get more info like a condition in the guidance, apart from this kind of demands or limits as are required to put into practice a personal debt restructuring agreed on by the facility supply borrower and the Government.