5 Tips about 922 loans You Can Use Today
5 Tips about 922 loans You Can Use Today
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(1) rescind an insured telephone financial loan built below this chapter without the consent of the borrower, Except all of the functions for which phone loans happen to be made towards the borrower below this chapter are already achieved with cash provided underneath this chapter;
The Secretary shall not deny or reduce any loan or bank loan advance below this chapter dependant on a borrower's amount of basic funds.
inserted "certain" ahead of "electric powered" in section catchline and amended text commonly. Prior to amendment, text go through as follows: "The Administrator might not call for prior acceptance of, impose any need, restriction, or prohibition with regard into the functions of, or deny or hold off the granting of a lien accommodation to, any electric powered borrower under this chapter whose net well worth exceeds one hundred ten % in the exceptional principal balance on all loans manufactured or sure to the borrower because of the Administrator."
(1) offers qualified broadband provider to, inside the proposed suitable support region explained in the application submitted because of the qualified entity—
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(D) Leverage assistance technologies and solutions from on-line platforms for providers of broadband services in rural regions.
§ 922. — Loans for rural telephone service. [Guidelines in influence as of January 24, 2002] [Document not affected by Community Legal guidelines enacted in between January 24, 2002 and December 19, 2002] [CITE: 7USC922] TITLE seven--AGRICULTURE CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE Provider SUBCHAPTER II--RURAL TELEPHONE SERVICE Sec. 922. Loans for rural telephone services From these types of sums as are occasionally designed obtainable by the Congress to your Secretary for these kinds of objective, pursuant to part 903 of this title, the Secretary is approved and empowered to make loans to individuals now furnishing or who might hereafter deliver telephone services in rural spots, to public bodies now giving telephone assistance in rural places and also to cooperative, nonprofit, minimal dividend, or mutual associations. Except as or else furnished by this subchapter, this sort of loans shall be built under the exact same stipulations as are provided in segment 904 read more of the title, for the goal of financing the improvement, growth, development, acquisition, and Procedure of phone strains, amenities, or systems to furnish and increase phone assistance in rural areas: Supplied, even so, The Secretary, in building these types of loans, shall give desire to folks providing phone company in rural regions, to general public bodies now furnishing phone company in rural regions, and also to cooperative, nonprofit, constrained, dividend, or mutual associations: And furnished even further, That for your duration of a single yr from and immediately after October 28, 1949, applications for loans received by the Secretary from folks who on October 28, 1949, are engaged within the Procedure of current telephone company in rural locations shall be considered and acted upon right before action is taken upon any software gained from almost every other particular person for just about any personal loan to finance the furnishing or enhancement of telephone assistance to substantially exactly the same subscribers. The Secretary in making such loans shall, insofar as feasible, receive assurance that the telephone provider to become furnished or enhanced thus is going to be made available to the widest simple quantity of rural buyers. When it is determined with the Secretary to be required so that you can furnish or boost phone company in rural locations, these loans may be created for the development, enlargement, design, acquisition, and Procedure of phone lines, services, or devices with out regard to their geographical place.
(B) reviewing any other source that is relevant to service data validation, as based on the Secretary; and
” in 2nd sentence and “and that no duplication” for “, nor shall these personal loan be produced in any State which now has or may possibly hereafter Use a State regulatory entire body obtaining authority to manage telephone provider and also to have to have certificates of benefit and requirement into the applicant Except such certification from these types of company is initially received. In the Condition during which there is absolutely no these agency or regulatory physique lawfully licensed to situation this sort of certificates for the applicant, no loan shall be made less than this part Unless of course the Secretary shall figure out (and established forth his motives therefor in creating) that no duplication” in last sentence.
A lender that gets a guarantee issued below this area over a bond or Observe shall pay back a fee towards the Secretary.
Subject to paragraph (2), for functions of this segment, the minimal satisfactory amount of broadband provider for your rural space shall be at least—
A borrower could reduce the balance of its cushion of credit history account provided that the amount obtained within the reduction is utilized to make scheduled payments on loans manufactured or assured under this chapter.