The 2-Minute Rule for 922 loans

The 2-Minute Rule for 922 loans

Blog Article

With regard to payment guidance supplied below paragraph (2), right before getting into into the agreement less than which the payment aid will be furnished, the applicant as well as the Secretary shall comply with milestones and objectives of the project.

The Secretary shall make grants, shall make loans, and shall guarantee loans to qualified entities described in subsection (d) to offer resources for the development, improvement, or acquisition of amenities and tools to the provision of broadband assistance in rural places.

In awarding assistance underneath this section, the Secretary shall give priority to proposals for tasks that—

(aa) the amount (if any) by which the price cut the borrower obtained by rationale in the prepayment exceeds the discounted the borrower would've been given experienced the discount been based on the cost of money on the Office with the Treasury at time in the prepayment; and

(iii) the average cost of essentially the most subscribed tier of broadband provider in the proposed provider spot;

Provisions much like those With this section have been contained in the next prior appropriation act:

§922. Loans for telephone services Segment Text From these types of sums as are from time to time manufactured out there through the Congress to your Secretary for this sort of reason, pursuant to segment 903 of the title, the Secretary is authorized and empowered to produce loans to persons now offering or who could hereafter supply telephone service in rural parts, to general public bodies now offering telephone company in rural regions and to cooperative, nonprofit, minimal dividend, or mutual associations.

(two) suggestions for just about any regulatory or legislative improvements that may be correct to further improve products and services to significantly underserved believe in locations.

(i) The common number of subscribers per mile of line while in the service area on the applicant is not really over 4.

(ii) the volume of quarterly payment dates among the initial quarterly payment day that occurs 12 decades after the close with the year through which the quantity becoming refinanced was Highly developed plus the maturity date in the financial loan progress; and

The Products and services arranged via this Site can be obtained only with the locations recognized in This website. This web site and these Stipulations shall be ruled by and will be construed in click here accordance With all the regulations of the Point out through which you reside, excluding its conflicts of legislation concepts.

If a borrower and the Secretary have entered into an settlement with respect to the prepayment transpiring just before Oct 21, 1992, this paragraph shall supersede any provision while in the settlement regarding the restoration of eligibility for loans below this chapter.

When determining to employ the payment help authority less than paragraph (two) the Secretary shall take into consideration if the payment help will—

§6201(8), extra subsec. (i) and struck out previous subsec. (i). Ahead of Modification, text study as follows: "Notwithstanding every other provision of this chapter, the proceeds of any financial loan produced or assured because of the Secretary less than this chapter may be used by the receiver of the mortgage for the purpose of refinancing an outstanding obligation in the recipient on One more telecommunications financial loan designed underneath this chapter if the usage of the proceeds for that function will guidance the development, enhancement, or acquisition of services and products to the provision of broadband provider in rural places."