{"data":{"id":"us/7-cfr-1735.47","jurisdiction":"us","citation":"7 CFR 1735.47","heading":"Rescissions of loans.","body":"(a) Rescission of a loan may be requested by a borrower at any time. To rescind a loan, the borrower must demonstrate to RUS that:\n(1) The purposes of the loan being rescinded have been completed;\n(2) Sufficient funds are available from sources other than RUS or FFB to complete the purposes of the loan being rescinded; or\n(3) The purposes of the loan are no longer required to extend or improve telephone service in rural areas.\n(b) Borrowers submitting loan applications containing purposes previously covered by a loan that has been rescinded shall include in the application an explanation, satisfactory to RUS, of the change of conditions since the rescission that re-establishes the need for those purposes.\n(c) RUS shall not initiate the rescission of a loan unless all of the purposes for which telephone loans have been made to the borrower under the Act have been accomplished with funds provided under the Act.","path":["Title 7—Agriculture","Subtitle B—Regulations of the Department of Agriculture","CHAPTER XVII—RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE","PART 1735—GENERAL POLICIES, TYPES OF LOANS, LOAN REQUIREMENTS—TELECOMMUNICATIONS PROGRAM","Subpart D—Terms of Loans"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-7.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:01Z","sha256":"09f343b536fd5712eeceeefbaed14bae8b9dec4f04f9c7275755d779460fea8f","source_id":"us-cfr","stale":true,"prev":"us/7-cfr-1735.46","next":"us/7-cfr-1735.48-1735.49"},"notice":"GroundRules: Original legal text. Not legal advice."}