922 loans for Dummies
922 loans for Dummies
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The phrase "suitable broadband provider" implies broadband service which includes the capability to transmit information in a velocity specified through the Secretary, which may not be fewer than the relevant minimum amount down load and add speeds established by the Federal Communications Commission in defining the phrase "Innovative telecommunications capability" for applications of section 1302 of title 47.
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(i) permits just one application for your grant and a mortgage beneath subchapter I, II, or this subchapter that's connected to these types of grant; and
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inserted provisions prohibiting Administrator from giving aid to telephone borrower unless borrower especially applies therefor.
No sums Along with the payment with the excellent principal equilibrium owing to the mortgage might be charged as the result of this kind of prepayment in opposition to the borrower, the fund, or perhaps the Secretary.
§922. Loans for telephone provider Portion Textual content From these sums as are on occasion designed offered via the Congress into the Secretary for these types of reason, pursuant to area 903 of this title, the Secretary is authorized and empowered to create loans to people now supplying or who may possibly hereafter deliver telephone service in rural spots, to public bodies now providing telephone company in website rural places also to cooperative, nonprofit, constrained dividend, or mutual associations.
authorized assignment of certain loans and their connected assures and inserted "originally" just before "manufactured, held, and serviced" in provision defining certain loans as that expression is used Within this subchapter.
For the goal of pinpointing the eligibility of the distribution borrower not in default about the repayment of a personal loan designed or confirmed underneath this chapter for any loan, personal loan promise, or lien accommodation beneath this subchapter, a default by a borrower from which the distribution borrower buys wholesale electric power shall not—
On ask for of any applicant that's suitable to get a loan less than this paragraph for which cash aren't offered, the applicant shall be regarded to own utilized for your personal loan underneath subchapter IV.
Almost nothing in this subsection shall Restrict the authority on the Secretary to keep the providers of consultants from money designed available to the Secretary or normally.
Topic to clause (ii), the desire level described On this subparagraph on a loan to your qualifying applicant shall be—
The Secretary as well as the applicant may well jointly conform to amend the milestones and aims agreed to underneath paragraph (three).
A bond or Observe assured under this part shall, by agreement between the Secretary as well as borrower—