The Broadband Loan Insurance Program (BLINS) was created to assist businesses in gaining access to credit from West Virginia's financial institutions. The project must be certified by the West Virginia Broadband Enhancement Council as having met the requirements of providing broadband service to an unserved or underserved area of the State of West Virginia. The project must have written certification from the participating financial institution that, but for the WVEDA BLINS program, the financial institution would not otherwise make the loan based solely on the creditworthiness of the broadband provider.
Per the guidelines adopted by the WVEDA the BLINS program could insure up to 80% of a bank loan for a broadband infrastructure or development project. The insured portion cannot exceed Ten Million Dollars ($10,000,000) and could be for a maximum term of twenty years. The project must be certified by the West Virginia Broadband Enhancement Council as having met the requirements of providing broadband service to an unserved or underserved area of the State of West Virginia.
Non-Profit Organization; For-Profit Business; Local Government
Eligible Recipients Detail:
Certified organizations providing broadband service to unserved or underserved areas and building telecommunications network segments.
Broadband Enabled Devices; Building Infrastructure; Anchor Institution Infrastructure; Last Mile Infrastructure
Eligible Purpose Detail:
This program supports providing broadband service to a household or business in an unserved or underserved area or finance building a segment of a telecommunications network that links a network operator's core network to a local network plant that serves either an unserved area or an area in which no more than two wireline providers are operating.