922 loans for Dummies
922 loans for Dummies
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concerning prepayment of loans have been established out like a Take note less than segment 936 of this title and ended up repealed by
The Secretary shall consult with Together with the Commission ahead of giving broadband aid to get a venture to provide a location with regard to which One more entity is getting Connect The usa Fund or Mobility Fund assistance under the Federal universal services assistance mechanisms set up below segment 254 of title 47.
(i) permits a single application to get a grant and also a financial loan beneath subchapter I, II, or this subchapter that may be associated with these kinds of grant; and
The Secretary may possibly involve an entity to provide a price share within an amount of money never to exceed ten p.c of the level of the grant, personal loan, or loan ensure requested in the application from the entity, Unless of course the Secretary establishes that a greater percentage is required for financial feasibility.
Extensions underneath this section shall not be granted Except the borrower to start with submits with its ask for either—
The rate of the mortgage less than this part shall be equal to the standard tax-exempt municipal bond fee of comparable maturities.
(3) establish and administer numerous pilot tasks via electric and phone borrowers the Secretary determines are useful or necessary, and endorse unique rural enhancement initiatives for rural regions;
The interest rate with a personal loan refinanced under this section shall be identified to be equivalent to your then latest price of money on the Division in the Treasury for obligations of comparable maturity to the expression selected by the borrower pursuant to paragraph (three), besides that these kinds of charge shall not be greater than seven % per year, issue to subsection (d).
(iii) agree to accomplish buildout of the broadband infrastructure explained in the applying by not afterwards than five yrs once the First date on which assistance below this segment is made offered.
The Secretary might involve any added reporting and 922 loans knowledge by any recipient of any broadband guidance under this chapter so as to be certain compliance with this particular portion.
The Secretary shall ensure that the type and degree of, and approach to protection utilized to secure, any bank loan or bank loan guarantee below this portion is commensurate to the risk involved with the bank loan or financial loan guarantee, specifically in any scenario where the mortgage or mortgage promise is issued to your fiscally solid and secure entity, as determined by the Secretary.
The interest charge described In this particular subparagraph over a personal loan to an applicant with the loan shall not exceed seven p.c if—
The Secretary could make or assurance loans under this subchapter and subchapter I for cybersecurity and grid stability advancements.
A borrower may possibly decrease the stability of its cushion of credit account provided that the quantity received through the reduction is accustomed to make scheduled payments on loans created or guaranteed less than this chapter.