Bob Mudge
Mid-Size Broadband Providers Say Letter of Credit Requirement in Current BEAD Program Will Reduce Broadband Expansion Investments
We write today to ask the National Telecommunications and Information Administration (NTIA) to provide guidance on alternatives to the Broadband Equity Access and Deployment (BEAD) program’s requirement that all applicants for program funding obtain an irrevocable letter of credit of 25% of the award, in addition to the 25% company match requirement. We believe that the letter of credit requirement in its current state will force many ISPs out of the program.