I know a local company that got 35 million and declared bankrupcy after
putting in the last tower... days after.....
So I guess that auditing is working well?
On 1/30/20 12:48 PM, ch...@wbmfg.com wrote:
I would disagree on the financials. A copy of good financials, even 5
years worth, gives you a very clear picture as to the health of your
company.
If they are handing out public money (not really sure as to the source
of funds, if USF generated it is not truly public money), they have a
fiduciary duty to the public to award the money to healthy companies
that truly have the ability to use it properly.
That said, I know one WISP early on in the community grants that bought
a truckload of towers and very large flooded cell C.O. batts and they
sat and rotted away in the desert. He never did use the batts.
-----Original Message----- From: Matt Hoppes
Sent: Thursday, January 30, 2020 10:37 AM
To: AnimalFarm Microwave Users Group ; Dev
Subject: Re: [AFMUG] CAF-II lack of bidders?
Here's my dream "funding process".
I've seen too much money used for things that didn't end up being the
projected end-goal.
Company must have been in existence for 5 years. Company must show
competency and growth organically. Company must show business plan
that will work (no fluff.. an actual business plan which will be audited).
Who cares about your financials? This isn't about financials, this is
about funding and running broadband.
A visit to your facility by a funding representative is required. Meet
with you, talk with you, see what you are doing. Talk with some of your
existing customers to determine if you actually provide quality services.
No companies with more than 10,000 subscribers are allowed to bid on
some funding, and no more than 150,000 subscribers on other funding.
Money is presented to the provider who provides the most sound,
reasonable business plan, which will turn a profit on its own in 3-5 years.
A feasibility interest study must be performed by the provider taking
survey requests from end users to determine if there is actually a need
AND desire for internet at the area.
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