TIER REQUIREMENT FOR INSURED TELEPHONE LOANS.

SEC. 2361. TIER REQUIREMENT FOR INSURED TELEPHONE LOANS. Section 305 (7 U.S.C. 935) is amended by adding at the end the following new subsection: “(d) The Administrator shall make a telephone loan under this title to an applicant therefor who is otherwise qualified to receive such a loan at the highest interest rate (but not less than the lowest interest rate, nor higher than the highest interest rate, specified in subsection (b)) at which the borrower would be capable of producing net income or margins before interest payments of at least 100 percent (but not more than 150 percent) of the interest requirements on all of the applicant’s outstanding and proposed loans.”.