§1735.14. Borrower eligibility.
7 C.F.R. § 1735.14
RUS makes loans to—
Entities providing, or who may hereafter provide, telephone service in rural areas;
Public bodies providing telephone service in rural areas as of October 28, 1949; and
Cooperative, nonprofit, limited dividend or mutual associations.
For purposes of § 1735.10(a)(2):
Any entity eligible to borrow from the RUS;
State or local governments;
Indian Tribes (as defined in § 4 of the Indian Self-Determination and Education Assistance Act (25 U.S.C. 450b); or
An emergency communications equipment provider that in the sole discretion of RUS offers adequate security for a loan where the State or local government that has jurisdiction over the proposed project is prohibited by law from acquiring debt.
RUS does not make loans to individuals.
RUS gives preference to those borrowers (including initial loan applicants) already providing telephone service in rural areas, and to cooperative, nonprofit, limited dividend, or mutual associations. To be eligible for a loan, a borrower:
Must have sufficient authority to carryout the purposes of the RE Act; and
Must be incorporated or a limited liability company.
Notes, amendments, and revision history
Amendments
[58 FR 66253, Dec. 20, 1993, as amended at 64 FR 50429, Sept. 17, 1999; 65 FR 42619, July 11, 2000; 76 FR 56094, Sept. 13, 2011]
Source
Source: 54 FR 13351, Apr. 3, 1989, unless otherwise noted. Redesignated at 55 FR 39395, Sept. 27, 1990.
Authority
Authority: 7 U.S.C. 901 et seq., 1921 et seq., and 6941 et seq.
Source
Source: 54 FR 13352, Apr. 3, 1989, unless otherwise noted. Redesignated at 55 FR 39395, Sept. 27, 1990.
Amendments
[58 FR 66253, Dec. 20, 1993, as amended at 64 FR 50429, Sept. 17, 1999; 65 FR 42619, July 11, 2000; 76 FR 56094, Sept. 13, 2011]