The 2-Minute Rule for 922 loans
The 2-Minute Rule for 922 loans
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(D) the estimated selection and proportion of support factors inside the proposed assistance territory devoid of fastened broadband provider, no matter if terrestrial or wi-fi;
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An suitable entity that receives a grant below the Program shall utilize the grant to perform a project that—
An software submitted by an suitable entity underneath paragraph (1) shall include things like documentation enough to reveal The supply of funds to fulfill the requirement of subsection (e).
inserted provisions prohibiting Administrator from giving aid to telephone borrower Unless of course borrower exclusively applies therefor.
(one) the number of purposes received and approved, together with any Exclusive personal loan terms or circumstances for which the Secretary furnished supplemental aid to unserved places;
The entire quantity of a deferment underneath this subsection shall not exceed the sum of your principal and interest about the loans produced to a purchaser from the borrower, as based on the Secretary.
Besides as presented in subsection (b), the Secretary shall contemplate any percentage of a service territory that is definitely matter to An impressive grant agreement among the Secretary along with a broadband service provider to get unserved to the applications of all broadband aid packages beneath this chapter, In case the broadband provider in that part of a company territory is lower than ten Mbps downstream transmission capability or a lot less than 1 Mbps upstream transmission capability.
(bb) fascination on the amount described in product (aa), to the interval commencing over the date from the prepayment and ending about the date of the repayment, in a level equivalent to the common once-a-year price of borrowing via the Division on the Treasury.
§6211, substituted "furnishing phone provider in rural locations, which include indebtedness of recipients on Yet another telecommunications mortgage manufactured under this chapter." for "furnishing phone service in rural areas: Offered, That these kinds of refinancing shall be determined by the Secretary being important in an effort to furnish and enhance telephone company in rural spots: And provided even further, That these refinancing shall constitute not in excess of 40 for every centum of any loan created under this subchapter."
The Secretary shall ensure that the kind and degree of, and approach to security accustomed to secure, any personal loan or financial loan assure under this segment is commensurate to the danger associated with the loan or bank loan warranty, significantly in any case through which the mortgage or bank loan ensure is issued to your economically powerful and secure entity, as determined by the Secretary.
Clause (ii) shall not utilize into a financial loan to generally be built to an applicant for the objective of furnishing or improving electrical services to people situated in an urban location (as defined from the Bureau from the Census) if the common variety of shoppers for each mile of line of the entire electrical method with the applicant exceeds 17.
Pub. L. 115–334, § 6211, substituted “furnishing telephone service in rural parts, together with indebtedness of recipients on An additional telecommunications loan produced below this chapter.” for “furnishing telephone assistance in rural places: Furnished, That these kinds of refinancing shall be determined by the Secretary being necessary so as to furnish and improve check here telephone services in rural places: And presented even more, That this sort of refinancing shall represent not more than forty for every centum of any financial loan designed below this subchapter.”
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