The Definitive Guide to 922 loans

(one) rescind an insured telephone personal loan manufactured underneath this chapter with no consent on the borrower, Except if the entire functions for which phone loans are designed on the borrower under this chapter happen to be accomplished with resources presented underneath this chapter;

The Secretary shall seek advice from While using the Fee right before supplying broadband help for your challenge to provide a location with respect to which Yet another entity is getting Connect America Fund or Mobility Fund support underneath the Federal common assistance aid mechanisms established under portion 254 of title forty seven.

Along with hardship loans that are created underneath subparagraph (A), the Secretary may perhaps make an insured electric powered bank loan at an curiosity fee of 5 p.c every year to an applicant for your bank loan if, in the sole discretion with the Secretary, the applicant has seasoned a serious hardship.

All loans and bank loan guarantees offered below this segment shall be produced subject to this kind of conditions, circumstances, and adequacy of security prerequisites as may very well be imposed by the Secretary.

, That this sort of refinancing shall be determined by the Secretary to generally be needed so as to furnish and increase telephone assistance in rural regions: And offered additional

(V) that deliver fast and expanded deployment of mounted and cell broadband on cropland and ranchland within a support territory to be used in several apps of precision agriculture; and

(i) The standard revenue for each kilowatt-hour marketed via the applicant is not less than 120 percent of the standard income for every kilowatt-hour sold by all utilities from the State wherein the applicant supplies service.

The interest rate with a mortgage refinanced beneath this area shall be established to get equal into the then latest expense here of funds towards the Department of the Treasury for obligations of comparable maturity to your expression selected via the borrower pursuant to paragraph (three), except that this kind of rate shall not be larger than 7 p.c a year, topic to subsection (d).

Not a lot less than three % and never a lot more than 5 % of amounts appropriated to carry out this section for a fiscal calendar year shall be used for technological guidance and schooling below this paragraph.

(2) provide grants only to People jobs which serve rural locations wherever inhabitants density or geographic characteristics ensure it is infeasible to build middle mile broadband programs without the need of grant guidance.

No borrower of cash underneath sections 904 or 922 of this title shall, without the acceptance of your Secretary, provide or get rid of its house, rights, or franchises, obtained beneath the provisions of this chapter, till any loan attained from The agricultural Electrification Administration, like all interest and charges, shall are actually repaid.

S.C. 901 et seq.), and to increase the maturity date of any these types of financial loan into a day not outside of forty a long time in the day of this sort of loan where by he decides such motion is necessary because of the impairment in the financial feasibility with the program, or maybe the loss, destruction, or problems from the assets of this sort of borrowers on account of A significant catastrophe.

The Secretary and also the applicant may well jointly agree to amend the milestones and objectives agreed to below paragraph (3).

In the case of zero desire loans, the Secretary shall set up this sort of affordable repayment conditions as will stimulate borrower participation.