About 922 loans

(ii) The typical household revenue for each kilowatt-hour bought because of the applicant is not fewer than 120 per cent of the normal residential revenue per kilowatt-hour offered by all utilities while in the Condition during which the applicant delivers provider.

The Secretary shall not deny or decrease any loan or mortgage advance below this chapter depending on a borrower's degree of common resources.

(i) permits an individual application for any grant and a mortgage beneath subchapter I, II, or this subchapter that is certainly associated with these kinds of grant; and

The applicant may well not pick a expression that ends over 35 yrs just after the beginning of the initial expression the applicant selects less than clause (i).

" for "foundation if the proceeds of the bonds or notes are accustomed to make loans for any electrification or telephone goal suitable for support below this chapter, including part 904 or 922 of this title or to refinance bonds or notes issued for this kind of purposes.", and included par. (2).

inserted provisions associated with loans made by Federal Funding Financial institution with respect to assures issued underneath this area, and substituted "an insured loan" for "a loan insured within the common fee".

In the situation in the refinancing of the bank loan of the borrower pursuant to this portion as well as inclusion of a penalty from the fantastic principal stability of your refinanced loan pursuant to subsection (b)(3)—

inserted at stop "The Administrator may not request any applicant for an electric personal loan below this chapter to make an application for and acknowledge a loan in an volume exceeding 30 percent of the credit history needs of your applicant."

(bb) desire on the amount described in merchandise (aa), with the period commencing around the date with the prepayment and ending to the day with the repayment, in a fee equivalent to the standard yearly cost of borrowing because of the Department with the Treasury.

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Loans designed less than this portion shall be insured by the Secretary when ordered by a lender. As made use of Within this chapter, an insured loan is 1 which can be produced, held, and serviced via the Secretary, and sold and insured from the Secretary hereunder; this sort of loans shall be offered and insured from the Secretary with out undue delay.

The borrower shall certify in composing if the funding are going to be tax exempt and shall comply with such other stipulations as the Secretary may possibly create which can be acceptable and necessary to perform this subsection.

The Secretary shall make insured electric loans, for the extent of qualifying purposes for your loans, at an desire price of 5 per cent every year to any applicant for a mortgage who satisfies each of the subsequent prerequisites:

If the center mile infrastructure would not deliver sufficient stability resulting from long-term leasing click here preparations, the Secretary shall require substitute safety in this kind of kind and compound as are acceptable into the Secretary.