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42 U.S. Code § 16373. Secured loans
(a) Agreements
(1) In generalSubject to paragraph (2), the Secretary may enter into agreements with 1 or more obligors to make secured loans, the proceeds of which—
(A) shall be used—
(i)
to finance eligible project costs of any project selected under section 16372 of this title;
(ii)
to refinance interim construction financing of eligible project costs of any project selected under section 16372 of this title; or
(iii) to refinance long-term project obligations or Federal credit instruments, if the refinancing provides additional funding capacity for the completion, enhancement, or expansion of any project that—
(I)
is selected under section 16372 of this title; or
(II)
otherwise meets the requirements of that section; and
(B)
may be used in accordance with subsection (b)(7) to pay any fees collected by the Secretary under subparagraph (B) of that subsection.
(2) Risk assessment
Before entering into an agreement under this subsection, the Secretary, in consultation with the Director of the Office of Management and Budget, shall determine an appropriate credit subsidy amount for each secured loan, taking into account all relevant factors, including the creditworthiness factors under section 16372(b)(2) of this title.