922 loans for Dummies
922 loans for Dummies
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With respect to payment help presented less than paragraph (2), ahead of getting into to the arrangement beneath which the payment assistance will probably be provided, the applicant and the Secretary shall agree to milestones and targets of the undertaking.
(2) may well waive nonduplication limits, matching fund prerequisites, or credit history guidance requirements from any financial loan or grant software administered by The agricultural Utilities Services to aid the development, acquisition, or advancement of infrastructure;
Entities that acquire guidance to build, make improvements to, or obtain middle mile infrastructure beneath this portion shall be qualified to use For added funds below this subchapter to supply for retail broadband assistance to finish buyers.
Resources received from the borrower to pay for the payment explained in this section shall not be derived from a mortgage or other credit card debt obligation that is definitely made or guaranteed through the Federal Authorities.
On ask for of any applicant who is eligible for any personal loan beneath this paragraph for which cash usually are not available, the applicant shall be regarded to have applied for your personal loan assure underneath portion 936 of this title.
Provisions just like All those With this area have been contained in the following prior appropriation act:
The low cost amount to become set via the Secretary for direct or insured loans prepayments hereunder shall be based upon The existing cost of money to your Section with the Treasury for obligations of equivalent maturity to These currently being pay as you go. If a borrower prepays using tax exempt financing, the price reduction shall be modified to make the price reduction akin to fully taxable funding. The borrower shall certify in crafting whether the financing will probably be tax exempt and shall comply with this sort of other stipulations since the Secretary may well create which are reasonable and necessary to apply this provision. As employed In this particular area, the phrase "immediate bank loan" means a loan produced under portion 904 of the title.
A distribution borrower not in default around the repayment of loans produced or insured below this chapter shall be eligible for discounted prepayment as offered In this particular subsection. For the objective of identifying eligibility for discounted prepayment beneath this subsection or eligibility for support beneath this chapter, a default by a borrower from which a distribution borrower purchases wholesale electric power shall not be deemed a default by the distribution borrower.
The Secretary shall involve any entity receiving assistance below segment 950bb–1 of this title to post a semiannual report for five decades following completion from the undertaking, within a format specified from the Secretary, that describes—
substituted provisions establishing an curiosity fee at 5 per centum per annum and also a lower charge, but not under 2 for every cent, underneath the enumerated standards, for provisions developing normal and Unique rates, with Particular premiums relevant less than enumerated standards.
Any substitute provider benchmarks ought to keep on to evaluate the very best know-how accessible to meet the requirements on the inhabitants from the unserved space.
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The Secretary may well need an check here entity that proposes to have a subscriber projection of much more than twenty % of the broadband assistance marketplace in the rural place to post to the Secretary a industry survey.
The Secretary shall demand any entity acquiring support to get a challenge which gives retail broadband service to submit an once-a-year report for 3 yrs right after completion of your task, in a format specified via the Secretary, that describes—