922 loans - An Overview

The Secretary may not, without the consent from the borrower, call for, for a problem of processing an software for acceptance, that the borrower conform to pay out The prices, costs, and costs of consultants employed to supply complex or advisory companies on the Secretary.

The Secretary in making these kinds of loans shall, insofar as feasible, acquire assurance that the telephone support for being furnished or improved thus is going to be produced accessible to the widest simple quantity of rural customers. When it is decided because of the Secretary to generally be needed as a way to furnish or enhance telephone services in rural locations, such loans may be produced for the improvement, expansion, building, acquisition, and Procedure of phone lines, amenities, or systems without having regard for their geographical site. The Secretary is even more authorized and empowered for making loans for the objective of refinancing fantastic indebtedness of individuals furnishing telephone services in rural regions, which include indebtedness of recipients on An additional telecommunications loan made less than this chapter. Loans under this section shall not be made Except if the Secretary finds and certifies that in his judgment the security therefor is reasonably suitable and these types of financial loan will probably be repaid inside the time agreed and that no duplication of strains, facilities, or units, offering moderately satisfactory services will outcome therefrom.

A penalty shall be assessed in opposition to a borrower that refinances or prepays a bank loan or personal loan progress, or any percentage of a loan or advance, less than this part. Apart from as presented in paragraph (two), the penalty shall be equal on the lesser of—

(A) the difference between the exceptional principal stability with the financial loan currently being refinanced plus the current worth of the financial loan discounted in a amount equivalent into the then present-day expense of funds towards the Division from the Treasury for obligations of equivalent maturity to your financial loan remaining refinanced or pay as you go;

(iii) the standard price of one of the most subscribed tier of broadband assistance in a very proposed company area;

(A) the duplication of any current eligible broadband assistance supplied by another entity during the qualified service place; or

For electrification baseload era bank loan assures, the Secretary shall, for the request from the borrower, cost an upfront charge to cover The prices on the bank loan ensure.

amended area frequently, inserting segment catchline and substituting latest provisions for provisions relating to money of Secretary, together with provisions for loans by Secretary of your Treasury, authorization of appropriations, allotment of resources for loans in States, loans of unallotted funds, and unexpended funds and limitation on use.

The Secretary of Agriculture (referred to During this chapter because the "Secretary") is approved and empowered to help make loans, or refinance loans built or confirmed by the Secretary less than this chapter, within the numerous States and Territories of the United States for rural electrification and for the purpose of furnishing and bettering electric and telephone support in rural parts, as furnished On this chapter, and for the purpose of assisting electric powered borrowers to carry out demand from customers aspect management, Electricity efficiency and conservation plans, and on-grid and off-grid renewable Vitality methods.

Extensions below this section shall not be made Except the Secretary initially finds and certifies that, following offering result towards the extension, in his judgment the safety for all loans to your borrower manufactured or guaranteed less than this chapter in all fairness sufficient and that every one these kinds of loans is going to be repaid within the time agreed.

(A) that describes a job built to lessen the price of broadband deployment, and considerably boost broadband speed not to a lot less than the utmost 1 broadband buildout specifications established under portion 950bb(e)(four) of this title, in a rural space being served because of the task; and

0 at finish of The newest calendar 12 months ending no less than six months ahead of approval on the loan, willpower of this sort of ratio, and defining sum of distribution plant and typical plant, gross income, and value of power for prior provision for and regular gross income for every mile which happens to be at the least $450 down below the typical gross income for each mile of REA-financed electric powered units, in the case of electric borrowers, or a minimum of $300 under the normal get more info gross profits for every mile of REA-financed phone devices, in the situation of phone borrowers; and inserted in proviso of par. (2) "into a telephone or electrical borrower" soon after "generate a financial loan".

The Secretary may well require an entity that proposes to have a subscriber projection of in excess of twenty percent in the broadband assistance marketplace in the rural place to post towards the Secretary a industry survey.

In addition to every other money or authorities usually made obtainable underneath this chapter, the Secretary may perhaps make electric powered loans under this subchapter for electric generation from renewable Power sources for resale to rural and nonrural citizens.