The Secretary may make or guarantee loans to eligible entities described in subsection (b) so that the eligible entities may relend the funds to individuals and entities for the purposes described in subsection (c).
(b) Eligible entities
Entities eligible for loans and loan guarantees described in subsection (a) are—
(c) Eligible purposes
The proceeds from loans made or guaranteed by the Secretary pursuant to subsection (a) may be relent by eligible entities for projects that—
(1)predominately serve communities in rural areas; and
(2)as determined by the Secretary—
(A)promote community development;
(B)establish new businesses;
(C)establish and support microlending programs; and
(D)create or retain employment opportunities.
The Secretary shall not make loans under section
9812(a) of title
(e) Authorization of appropriations
There is authorized to be appropriated to carry out this subsection $25,000,000 for each of fiscal years 2014 through 2018.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.