Facts About 922 loans Revealed
Facts About 922 loans Revealed
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"(two) can't, in accordance with normally recognized management and accounting principles and without having charging fees to its customers or subscribers so significant as to create a considerable disparity in between these types of prices and the premiums charged for related provider in a similar or nearby regions by other suppliers, present provider according to the goals of the chapter."
Loans constructed from or insured in the fund shall be for the same uses and on exactly the same stipulations as are delivered for loans in subchapters I and II of this chapter except as usually supplied in sections 933 to 938 inclusive.
Subject to the limitations On this area plus the provisions of the Federal Credit history Reform Act of 1990 [two U.S.C. 661 et seq.], as amended, a borrower of the bank loan created by the Federal Financing Lender and confirmed underneath this chapter may perhaps ask for an extension of the final maturity from the outstanding principal stability of this sort of bank loan or any mortgage progress thereunder.
The Secretary may well not make a payment support financial loan under paragraph (2)(B) to an entity getting a grant underneath this portion which is also the recipient of a financial loan less than subchapter I or II that's linked to these types of grant.
inserted provisions prohibiting Administrator from providing support to phone borrower Unless of course borrower specifically applies therefor.
S.C. 901 et seq.] to finance the acquisition of current generation, transmission and distribution techniques and services serving large Value, predominantly rural parts by entities able to and committed to delivering or increasing assistance in these types of spots in an efficient and economical manner.
For electrification baseload generation loan assures, the Secretary shall, within the request from the borrower, demand an upfront cost to protect the costs of your financial loan promise.
Any contract of insurance or warranty executed with the Secretary under this subchapter shall be an obligation supported by the complete religion and credit of The usa and incontestable except for fraud or misrepresentation of which the holder had precise information at the time it became a holder.
(3) the borrower certifies that any financial savings from these prepayment will probably be passed on to its prospects or used to Enhance the financial energy of the borrower in scenarios more info of financial hardship.
On ask for of any applicant that's suitable for a loan under this paragraph for which funds usually are not offered, the applicant shall be viewed as to get utilized for any bank loan beneath subchapter IV.
Apart from as presented in paragraph (2), a immediate or insured bank loan made underneath this chapter shall not be sold or pay as you go at a price which is less than the superb principal harmony around the financial loan.
, Which the Secretary, in building this sort of loans, shall give preference to people supplying phone support in rural areas, to public bodies now delivering telephone company in rural places, and also to cooperative, nonprofit, constrained dividend, or mutual associations. The Secretary in building such loans shall, insofar as you can, receive assurance that the phone service to become furnished or improved thus is going to be produced available to the widest sensible quantity of rural end users. When it is decided because of the Secretary to be necessary so that you can furnish or make improvements to telephone services in rural places, these types of loans might be produced for the development, enlargement, development, acquisition, and operation of phone lines, services, or techniques devoid of regard to their geographical location.
(two) deobligate any awards, much less allowable expenditures that demonstrate an insufficient standard of overall performance (which include metrics based on the Secretary) or fraudulent investing, on the extent resources with regard to the award are available in the account associated with This system recognized by this subchapter;
The Secretary shall create a program, to get referred to as the "Local community Join Grant Plan", to offer grants to suitable entities to finance broadband transmission in rural locations.