Browse Arkansas Code titles and sections
42 U.S.C. § 9815 — Development loan fund
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorities, scope, and purposes; conditions; interest rate; repayment** The Secretary is authorized to make or guarantee loans (either directly or in cooperation with banks or other organizations through agreements to participate on an immediate or deferred basis) to community development corporations, to families and local cooperatives and the designated supportive organizations of cooperatives eligible for financial assistance under this subchapter, to private nonprofit organizations receiving assistance under chapter 106 of this title, or to public and private nonprofit organizations or agencies, for business facilities and community development projects, including community development credit unions, which the Secretary determines will carry out the purposes of this part. No loans, guarantees, or other financial assistance shall be provided under this section unless the Secretary determines that—
(1) there is reasonable assurance of repayment of the loan;
(2) the loan is not otherwise available on reasonable terms from private sources or other Federal, State, or local programs; and
(3) the amount of the loan, together with other funds available, is adequate to assure completion of the project or achievement of the purposes for which the loan is made.
Loans made by the Secretary pursuant to this section shall bear interest at a rate not less than a rate determined by the Secretary of the Treasury taking into consideration the average market yield on outstanding Treasury obligations of comparable maturity, plus such additional charge, if any, toward covering other costs of the program as the Secretary of Health and Human Services may determine to be consistent with its purposes, except that, for the 5 years following the date in which funds are initially ava
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 9815
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 1d2b9e5631f230bb52f32ec2db20291ac18b7f2f10923cb020d59d084790f237. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_e4f1e49f8b995c00b415022a
Source file: Laws/federal/codes/united-states-code/title-42/section-9815-development-loan-fund--fdb42d67ea.md
Pages: Not recorded – Not recorded
Passage SHA-256: e316ae0e7ad9695fb6140e3b45ec74220a5f45048eb4136399c0f07d9ae39ae4
Source location: Title 42, Chapter 105, § 9815; chapter-105-community-services-programs.md
Stored source content
**(a) Authorities, scope, and purposes; conditions; interest rate; repayment** The Secretary is authorized to make or guarantee loans (either directly or in cooperation with banks or other organizations through agreements to participate on an immediate or deferred basis) to community development corporations, to families and local cooperatives and the designated supportive organizations of cooperatives eligible for financial assistance under this subchapter, to private nonprofit organizations receiving assistance under chapter 106 of this title, or to public and private nonprofit organizations or agencies, for business facilities and community development projects, including community development credit unions, which the Secretary determines will carry out the purposes of this part. No loans, guarantees, or other financial assistance shall be provided under this section unless the Secretary determines that—
(1) there is reasonable assurance of repayment of the loan;
(2) the loan is not otherwise available on reasonable terms from private sources or other Federal, State, or local programs; and
(3) the amount of the loan, together with other funds available, is adequate to assure completion of the project or achievement of the purposes for which the loan is made.
Loans made by the Secretary pursuant to this section shall bear interest at a rate not less than a rate determined by the Secretary of the Treasury taking into consideration the average market yield on outstanding Treasury obligations of comparable maturity, plus such additional charge, if any, toward covering other costs of the program as the Secretary of Health and Human Services may determine to be consistent with its purposes, except that, for the 5 years following the date in which funds are initially available to the borrower, the rate of interest shall be set at a rate considered appropriate by the Secretary in light of the particular needs of the borrower, which rate shall not be lower than 1 percent. All such loans shall be repayable within a period of not more than 30 years.
**(b) Adjustment of interest rates, moratorium on principal and interest, etc.** The Secretary is authorized to adjust interest rates, grant moratoriums on repayment of principal and interest, collect or compromise any obligations held by the Secretary, and to take such other actions in respect to such loans as the Secretary shall determine to be necessary or appropriate, consistent with the purposes of this section.
**(c) Establishment, funding, etc.**
(1) To carry out the lending and guaranty functions authorized under this part, there shall be established a Development Loan Fund consisting of two separate accounts, one of which shall be a revolving fund called the Rural Development Loan Fund and the other of which shall be a revolving fund called the Community Development Loan Fund. The capital of each such revolving fund shall remain available until expended.
(2) The Rural Development Loan Fund shall consist of the remaining funds provided for in part A of title III of the Economic Opportunity Act of 1964 [[42 U.S.C. 2841](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section2841&num=0&edition=prelim) et seq.], as in effect on September 19, 1972, and such amounts as may be deposited in such fund by the Secretary out of funds made available from appropriations for purposes of carrying out this part. The Secretary shall utilize the services of the Farmers Home Administration,11 So in original. The comma probably should not appear. or the Rural Development Administration in administering such fund.
(3) The Community Development Loan Fund shall consist of such amounts as may be deposited in such fund by the Secretary out of funds made available from appropriations for purposes of carrying out this subchapter. The Secretary may make deposits in the Community Development Loan Fund in any fiscal year in which the Secretary has made available for grants to community development corporations under this subchapter not less than $60,000,000 out of funds made available from appropriations for purposes of carrying out this subchapter.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
The purposes of this chapter are—
(1) to provide assistance to States and local communities, working through a network of community action agencies and other neighborhood-based organizations, for the reduction of poverty, the revitalization of low-income communities, and the empowerment of low-income families and individuals in rural and urban areas to become fully self-sufficient (particularly families who are attempting to transition off a State program carried out under part A of title IV of the Social Security Act ([42 U.S.C. 601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section601&num=0&edition=prelim) et seq.)); and
(2) to accomplish the goals described in paragraph (1) through—
(A) the strengthening of community capabilities for planning and coordinating the use of a broad range of Federal, State, local, and other assistance (including private resources) related to the elimination of poverty, so that this assistance can be used in a manner responsive to local needs and conditions;
(B) the organization of a range of services related to the needs of low-income families and individuals, so that these services may have a measurable and potentially major impact on the causes of poverty in the community and may help the families and individuals to achieve self-sufficiency;
(C) the greater use of innovative and effective community-based approaches to attacking the causes and effects of poverty and of community breakdown;
(D) the maximum participation of residents of the low-income communities and members of the groups served by programs assisted through the block grants made under this chapter to empower such residents and members to respond to the unique problems and needs within their communities; and
(E) the broadening of
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 9901
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Secretary shall take all necessary and appropriate steps to encourage Federal departments and agencies and State and local governments to make grants, provide technical assistance, enter into contracts, and generally support and cooperate with community development corporations and local cooperative associations.
**(b)** Eligibility for assistance under other Federal programs shall not be denied to any applicant on the ground that it is a community development corporation or any other entity assisted under this subchapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 9822
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 5631
TITLE 42—THE PUBLIC HEALTH AND WELFARE
§§ 2861 to 2865
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF REPEAL
Repeal effective Oct. 1, 1981, see section 9912(a) of this
title, prior to the general amendment of chapter 106
(§ 9901 et seq.) of this title by Pub. L. 105–285.
PART D—GENERAL AND TECHNICAL PROVISIONS
§ 2831. Omitted
Editorial Notes
CODIFICATION
Section, Pub. L. 88–452, title II, § 221, Aug. 20, 1964, 78
Stat. 524; Pub. L. 89–253, § 30(b), Oct. 9, 1965, 79 Stat. 979;
Pub. L. 89–794, title II, § 218, Nov. 8, 1966, 80 Stat. 1464,
extended the program through June 30, 1970, and pro-
vided that only such sums may be appropriated as the
Congress might authorize by law, prior to the general
amendment of Part D of this subchapter by Pub. L.
90–222, title I, § 104, Dec. 23, 1967, 81 Stat. 705. See sec-
tion 2837 of this title.
§ 2832. Repealed. Pub. L. 95–568, § 7(a), Nov. 2,
1978, 92 Stat. 2428
Section, Pub. L. 88–452, title II, § 240, as added Pub. L.
90–222, title I, § 104, Dec. 23, 1967, 81 Stat. 705, set forth
provisions relating to Assistant Directors for Commu-
nity Action.
§§ 2833 to 2837. Repealed. Pub. L. 97–35, title VI,
§ 683(a), Aug. 13, 1981, 95 Stat. 519
Section 2833, Pub. L. 88–452, title II, § 241, as added
Pub. L. 90–222, title I, § 104, Dec. 23, 1967, 81 Stat. 705;
amended Pub. L. 95–568, § 17(a)(13), Nov. 2, 1978, 92 Stat.
2440, related to extension of benefits to rural areas.
Section 2834, Pub. L. 88–452, title II, § 242, as added
Pub. L. 90–222, title I, § 104, Dec. 23, 1967, 81 Stat. 706;
amended Pub. L. 91–177, title I, § 107(a), Dec. 30, 1969, 83
Stat. 830; Pub. L. 95–568, § 17(a)(14), Nov. 2, 1978, 92 Stat.
2440, set forth provisions respecting submission of plans
to governors.
Section 2835, P
Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 2841
Stored review status: historical_2024_not_currentness_verified. The source passage cites 42 U.S.C. § 2841. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 7830
TITLE 42—THE PUBLIC HEALTH AND WELFARE
§ 9815
1 See References in Text note below.
2 So in original. Probably should be ‘‘Public’’.
1 See References in Text note below.
bers of urban and rural cooperatives shall in-
clude on-the-job training, classroom instruction,
and scholarships to assist them in development,
managerial,
entrepreneurial,
planning,
and
other technical and organizational skills which
will contribute to the effectiveness of programs
assisted under this subchapter.
(Pub. L. 97–35, title VI, § 625, Aug. 13, 1981, 95
Stat. 496.)
§ 9815. Small Business Administration and De-
partment of Commerce economic develop-
ment programs; regulations
(a)(1) Funds granted under this subchapter
which are invested directly or indirectly, in a
small investment company, local development
company, limited small business investment
company, or small business investment com-
pany licensee under section 681(d) 1 of title 15
shall be included as ‘‘private paid-in capital and
paid-in surplus’’, ‘‘combined paid-in capital and
paid-in surplus’’, and ‘‘paid-in capital’’ for pur-
poses of sections 682, 683, and 696, respectively,
of title 15.
(2) Not later than 90 days after August 13, 1981,
the Administrator of the Small Business Admin-
istration, after consultation with the Secretary,
shall promulgate regulations to ensure the
availability to community development cor-
porations of such programs as shall further the
purposes of this subchapter, including programs
under section 637(a) of title 15.
(b)(1) Areas selected for assistance under this
subchapter shall be deemed ‘‘redevelopment
areas’’ within the meaning of section 401 of the
Publc 2 Works and Economic Development Act of
1965,1 shall qualify for assistance under the pro-
visions
Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 9815
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.