Introducing: Where's the Funding?

Are you applying for broadband grant funding from the Infrastructure Investment and Jobs Act's Broadband Equity, Access, and Deployment (BEAD) program? 

You’ll need at least a 25% matching funds contribution for grants you seek, along with a Letter of Credit submitted up front with your application. 

That's the bare minimum. In many cases, states will seek a larger proportional match.

This requirement may seem intimidating for many would be grant-seeking broadband providers – especially local, new, and non-traditional providers. But there are many pathways to fulfilling this requirement for strong, growth-minded providers of all shapes and sizes. 

The matching requirement can even be an opportunity to align with great partners who can help connect more families to better broadband. It’s all a matter of perspective, knowledge, and network.

Many in broadband view matching funds requirements as unfair, obstructionist and political, but the truth is: Matching contributions can be a powerful force multiplier for your project’s outcomes.

Help with matching funds is the top request from Broadband.money applicants – 68% of provider applicants look for some kind of help lining up this crucial, elusive ingredient.

We even hear about otherwise-strong, skilled, capable providers – many local, many innovative – who are considering sitting out the IIJA BEAD program given the uniquely high bar for matching funds.

That’s why we were so excited when Fiber Broadband Association’s President and CEO Gary Bolton imagined a webinar series to help bridge this knowledge gap. 

We’re grateful to get to work with Gary and the FBA team in their new series called Where’s the Funding? Now providers and applicants can learn how to get matching funds for BEAD grants from experts. Gary generously agreed to make the curriculum open and available to the broadband community. Attendance is free.

When

On the third Wednesday of each month of 2023, an industry expert will lead a 30-minute discussion, including a Q&A session. 

We’ll kick the series off with Gary in January’s episode, covering the basics of how to get matching funds for broadband grants.

What

In early 2023, the series will dive into matching contribution topics, from broad to advanced. Later in the year, episodes will get into the dedicated, unique needs of specific groups:

• Internet service providers and BEAD grant-matching funds
• Tribal broadband grant matching funds
• Rural Electric Cooperative (REC) and Telco broadband grant matching funds
• Municipalities – all the flavors and varieties of tools available in the municipal markets

Upcoming topics include:

• Intro to the Capital Stack: What are the pros and cons of different loans? Should you borrow money from private or public sources?
• Intro to Private Funding Sources: Banks, family offices, foundations and more.
• Intro to Public Funding Sources: How might applicants leverage public funding sources?
• Intro to Alternative Sources and Types of Investments
• How to Design a Resilient Capital Stack
• Lining up Matching Funds Efficiently: You don’t need 100 different matching funds providers. Learn how to leverage the funding marketplace – launching mid-2023 – to save time and get multiple offers.
• Navigating the Letter of Credit: You have to submit it up front. Where do you start? Once you get offers, now what?

Broadband.money exists so providers can get the resources they need to connect more families to better broadband. 

We strongly encourage attending Where’s The Funding? Learn how to do more with less.

RSVP for free so you can learn how to find BEAD matching funds providers.