usually means the authorized instrument evidencing financial debt executed through the borrower to your lender with stipulated repayment phrases. The term promissory Be aware consists of bonds and various related financial debt devices issued with the lender to some borrower.
usually means a product derived from any Normally transpiring useful resource, such as agricultural methods, that is definitely more processed to add worth or accustomed to generate energy or renewable Strength.
(E) Major sources of money for the final 5 years and supply of funds for the proposed guaranteed loans;
(8) The acquisition and set up of renewable Power programs for use by A necessary community facility when:
(3) The most expression on the assured loan is 7 yrs once the proceeds in the inventory sale are utilized by the cooperative to recapitalize or are used for working funds.
(B) The facility will likely be utilized to deliver specialized help, teaching, workforce enhancement, administrative assistance services and vocational education to handle workforce shortages from the community or area; and
usually means by far the most probable cost that an asset need to bring in a competitive and open current market beneath all ailments requisite to a good sale, the buyer and seller, Just about every performing prudently, knowledgeably, and assuming the price will not be affected by undue stimulus.
(vi) For RES tasks that involve a shared meter which has a residence exactly where the expense of the technique is prorated, just the eligible prorated degree of Strength attributed to The agricultural organization or agricultural producer will likely be Employed in the payback calculation.
(iii) The lender will not provide fairness or take an possession curiosity inside a borrower in a amount that may end in the lender proudly owning twenty percent or more interest while in the borrower.
(4) Someone with a 4-yr engineering or architectural diploma with a minimum of 3 yrs of encounter and who's got done a minimum of five related style Power audits.
(two) Improve direct work by much more than fifty staff members, which happens to be calculated to or more likely to lead to an increase in the production of products, materials, commodities, or The supply of solutions or amenities in the region when There is certainly not adequate demand from customers for these types of items, supplies, commodities, products and services, or facilities to utilize the productive ability of current more info competitive professional or industrial enterprises, Until these money or other guidance won't have an adverse effect upon current competitive enterprises in the region.
usually means a doc, Typically ready by the borrower's consulting engineer or other capable bash, that describes the present method, analyzes alternatives, and proposes a certain training course of motion from an engineering viewpoint.
In the event the lending entity is usually a multi-tiered entity, the Agency will evaluate the lending entity in its entirety. As a way to be authorised as being a lender, a non-regulated lending entity have to:
(ii) Thrift shops that run as charitable organizations to complement the Standard of living for residents of the rural Group they serve demonstrated by the next things to do: