BEAD Financing Made Simple; Connect with NCSC Today

As states begin announcing their Broadband Equity, Access and Deployment (BEAD) program awards, telcos are entering a critical phase: securing the financing needed to match federal and state grants. For members who receive awards, NCSC account managers are ready to start the conversation and ensure the financing requirement is not a roadblock to a BEAD grant.

“If your organization applied for BEAD funding, reach out to your lender now,” NCSC Vice President of Business Development Jason Shelton said. “Early conversations can help clarify options and ensure your financing is ready when the awards are announced.”

The BEAD program, created under the Infrastructure, Investment and Jobs Act, allocated $42.5 billion to expand broadband access in underserved areas. Each state received a portion of this funding and was tasked with identifying the most cost-effective solutions for serviceable locations. States are now finalizing their award decisions and submitting them to the National Telecommunications and Information Administration (NTIA) for approval.

BEAD funding can support a wide range of initiatives aimed at expanding and improving internet access. These include planning efforts for high-speed internet deployment, upgrading or installing internet services in areas that lack adequate connectivity and enhancing access for community anchor institutions. Funds may also be used to equip multi-unit residential buildings with internet and Wi-Fi, promote digital inclusion through adoption and equity programs, and support workforce development through vocational training opportunities.

“Financing timelines can be tight, and having your capital strategy in place will help you move quickly once awards are confirmed,” Shelton said.

Interested in securing BEAD funding for your telco? Contact your NCSC account manager today to start the conversation.