Federal funding has been dedicated to constructing rural broadband networks. The competitive bidding process spurred ambitious project plans from a diversity of companies.
Competitive Bidding: Important Work
A $9.2 billion commitment by the Federal Communications Commission (FCC) is a major step to address the digital divide over the next decade by funding construction of high-speed broadband networks across rural America. The goal is to cover over 5 million homes and businesses in 49 states.
Successful bids were submitted by 180 companies. Winners must build the networks within 10 years and are incentivized to do so in shorter time frames. As reported by
The funding will go to internet-service providers, from established rural operators such as Windstream Holdings Inc. to newcomers such as cable provider Charter Communications Inc. and Elon Musk’s SpaceX. The companies bid against each other in an auction designed to steer public money to the company willing to build the fastest network in each area at the lowest cost.
Chances are, no matter how great your proposal is, you won’t be ready to win that next big bid without a surety line of credit in easy reach. Then too, what if at the submission deadline, you are still shuffling around to get the bid bond issued?
Let Colonial Surety Company help you gear up for your next bid with a surety line of credit. It is quick and easy to pre-qualify—after entering just a few, bare essentials about the business in our snappy online system, all companies that apply receive their Dun & Bradstreet scores—for free!
Contractors who pre-qualify for a surety line of credit, go on to upload a few more documents that help Colonial better understand their operation and underwrite our unique Partnership Account®.
Game Change: Speed Please
The biggest single contract awarded by the Federal Communications Commission for rural broadband networks went to LTD Broadband LLC. Based in Las Vegas, LTD Broadband was awarded about $1.3 billion. The contract is to reach over 500,000 homes and businesses. Though LTD has primarily used tower-mounted technology, the new federal funds enable expanded use of fiber-optic cable.
Speed can’t come fast enough for the millions of rural families lacking connectivity across the U.S. The pandemic has underscored the importance of high-speed internet in every home: children need it for school and adults need it for work. Winning bids for the FCC’s funds guarantee speed. According to The Wall Street Journal: In about 85% of locations, the providers promised ultrafast “gigabit” speed….Most of the remaining locations would see download speeds of at least 100 megabits a second, capable of large downloads.
Rev Up Your Business Too
Partner with Colonial Surety Company for faster bid, performance and payment bonds—and a whole lot more.
As a leading, national provider of surety bonds, Colonial Surety Company is arming contractors with fast, digital and direct access to surety bonds—and real time financial intel too. With a Colonial Partnership Account® contractors:
- Gain control of their bidding and bonding, online and in real time.
- Utilize powers of attorney to seal and issue their own bid bonds—in minutes.
- Compete with fast, confidential bid bonds—no middleman.
- Order performance and payment bonds easily from a customized digital dashboard.
- Track bids and work on hand in real time with free management reports.
- Speak directly with Colonial’s lead underwriter as new opportunities emerge.
- Leverage data on a private Owner’s Dashboard to view surety lines, adjust work on hand, analyze bids—and grow.
Don’t get left behind!
Founded in 1930, Colonial Surety Company is a direct seller and writer of surety bonds and insurance products for a wide range of industries and professions all across the USA. The Partnership Account® reflects a Colonial priority: innovating to provide value-added services to busy contractors. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.