Business / Agriculture / Section 515 Loans: A USDA rural housing program authorized under Section 515 of the Housing Act of 1949. The Rural Housing Service is authorized to make loans to provide rental housing for low- and moderate-income families in rural areas. Section 515 loans also may be used for congregate housing for the elderly and handicapped. Loans under Section 515 are made to individuals, corporations, associations, trusts, partnerships, or public agencies. The loans are made at 1% interest for a term of 50 years. Except for public agencies, all borrowers must demonstrate that financial assistance from other sources will not enable the borrower to provide the housing at terms that are affordable to the target population.
Section Noun Synonyms: sample, slice, cross-section, fraction
Section Adjective Synonyms: part, division, department, branch, sector, group, detachment, segment, portion, subdivision, component, element
Business / Agriculture / Rural Multifamily Housing Loans: Section 515 loans are available through the Rural Housing Service for providing rental housing for low- and moderate-income families in rural areas, and for congregate housing for the elderly and hand MORE
Business / Agriculture / Section 404: A provision of the Clean Water Act establishing a program regulating the discharge of dredge or fill material into the nation’s waters. Permits for individual dredge or fill activities are issued by MORE
Business / Agriculture / Section 4 General Or Basic Assistance: This refers to the section of National School Lunch Act requiring the federal government to subsidize all lunches served through the school lunch program, regardless of the income of the participant. MORE