---
kind: "section"
citation: "7 U.S.C. § 939"
title: "7"
title_heading: "Agriculture"
number: "939"
heading: "Loan terms and conditions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/7/939"
units:
  - "Chapter 31 — Rural Electrification and Telephone Service"
  - "Subchapter III — Rural Electric and Telephone Direct Loan Programs"
---

# §939. Loan terms and conditions


Loans made from or insured through the fund shall be for the same purposes and on the same terms and conditions as are provided for loans in subchapters I and II of this chapter except as otherwise provided in sections [933](/usc/7/933.md) to [938](/usc/7/938.md) inclusive.


## Source credit

(May 20, 1936, ch. 432, title III, § 309, as added Pub. L. 93–32, § 2, May 11, 1973, 87 Stat. 70; amended Pub. L. 101–624, title XXIII, § 2360, Nov. 28, 1990, 104 Stat. 4042; Pub. L. 103–129, § 2(b)(2), Nov. 1, 1993, 107 Stat. 1363; Pub. L. 104–127, title VII, § 779, Apr. 4, 1996, 110 Stat. 1151; Pub. L. 115–334, title VI, § 6602(b)(11), Dec. 20, 2018, 132 Stat. 4777.)

## Notes

### Editorial Notes

### Amendments

2018—Pub. L. 115–334 struck out at end “The preceding sentence shall not be construed to make section 948(b)(2) or 950b of this title applicable to this subchapter.”

1996—Pub. L. 104–127 struck out subsec. (a) designation and heading “In general” and heading and text of subsec. (b). Prior to amendment, text read as follows: “The term of any telephone loan made under this subchapter shall be determined by the borrower at the time the loan application is submitted.”

1993—Subsec. (a). Pub. L. 103–129 inserted at end “The preceding sentence shall not be construed to make section 948(b)(2) or 950b of this title applicable to this subchapter.”

1990—Pub. L. 101–624 designated existing provisions as subsec. (a) and added subsec. (b).

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective May 11, 1973, see section 12 of Pub. L. 93–32, set out as a note under section 930 of this title.