Not known Details About 922 loans
Not known Details About 922 loans
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In the request of the borrower, the Secretary is approved and directed to refinance with loans that will be insured beneath this chapter with the desire charges provided in section 935 of this title any loans made for rural electric powered and phone services beneath any provision with the Consolidated Farm and Rural Improvement Act [seven U.S.C. 1921 et seq.].
(1) A borrower will likely not qualify for prepayment underneath this section if, in the impression in the Secretary of the Treasury, to prepay in this sort of borrower's circumstance would adversely have an effect on the Procedure from the Federal Funding Financial institution.
A lender shall not get a guarantee beneath this area for any bond or Notice if, at some time on the ensure, the full principal amount of such confirmed bonds or notes outstanding from the lender would exceed the principal degree of superb loans in the lender for qualified needs explained in subsection (a)(1).
To be suitable for just a grant less than this section, As well as the requirements of subsection (d), the project that's the subject matter with the grant shall—
So that you can insure coordination of electric era and transmission funding beneath this chapter Using the countrywide Power plan, the Secretary in making or guaranteeing loans for the development, operation, or enlargement of generating vegetation or electric powered transmission traces or units, shall look at this kind of typical requirements consistent with the provisions of this chapter as might be printed via the Secretary of Power.
(B) any area inside a support place of the borrower for which a borrower has an outstanding financial loan built under subchapters I by way of V as on the date of enactment of the paragraph.
(i) The average profits per kilowatt-hour marketed from the applicant will not be under a hundred and twenty % of the standard income for every kilowatt-hour sold by all utilities while in the Point out through which the applicant provides provider.
(i) a borrower which has pay as you go a financial loan, either in advance of or after October 21, 1992, at a reduction amount as furnished by paragraph (three), shall not be qualified, other than for the discretion with the Secretary, to submit an application for or get immediate or insured loans beneath this chapter in the course of the one hundred twenty-month period commencing within the day on the prepayment; and
Notwithstanding area 661c of title two, outside of any funds from the Treasury not normally appropriated, the Secretary with the Treasury shall make out there this sort of sums as needed to deal with any personal loan modification prices as described in segment 661a of title two.
(A) evidence satisfactory to your Secretary that a Federal or Point out company with jurisdiction and knowledge has built an official willpower, which include through a licensing proceeding, extending the practical lifetime of a generating plant or transmission line pledged as collateral to or over and above The brand new remaining maturity day getting requested because of the borrower, or
Issue to subsection (b), the Secretary shall ensure payments on bonds or notes issued by cooperative or other lenders structured read more with a not-for-earnings foundation, if the proceeds on the bonds or notes are utilized to make utility infrastructure loans, or refinance bonds or notes issued for those needs, to the borrower that has Anytime been given, or is eligible to obtain, a bank loan below this chapter.
No mortgage origination solicitation exercise or personal loan origination purposes for Attributes situated in the Condition of Ny may be facilitated via This website.
"(one) producing modern-day telecommunications technology and solutions accessible in rural places in The us promotes financial advancement and increases the Standard of living in rural regions; and
(iii) The plan ought to stimulate and improve Computer system networks and information highways for subscribers in rural regions.