Vantage Point exceeds $1.4 Billion in Loan and Grant Funding for Clients
February 5, 2018
With success in NY Grant program, Vantage Point exceeds $1.4 billion in broadband financing secured for clients.
$1.4 billion, with a B. That’s the milestone recently crossed by Vantage Point Solutions measuring the loan and grant financing they have secured for clients.
In the New NY Broadband Grant Program’s Phase 3 grants, announced January 31, Vantage Point clients were awarded tens of millions of dollars to provide broadband to unserved and underserved areas of New York. That dollar amount, added to previous awards, put Vantage Point’s total loan and grant funding secured for clients over $1.4 billion.
Through a combination of federal and state loan and grant programs, Vantage Point has assisted dozens of companies in securing the funding necessary to support multi-state, statewide, and local broadband buildouts and network improvements using fiber-to-the-home (FTTH), wireless, and middle mile technologies. These programs include RUS Community Connect, BIP Stimulus, NTIA Stimulus, state grants, and federal loan programs.
In recent years, Vantage Point has been especially successful with state grant programs in New York, Wisconsin, and Minnesota.
Wednesday’s announcement marks the third round of the New York state grant awards. The awards, announced by Governor Andrew Cuomo, include New York CAF II funding, a separate funding program made available to New York broadband providers through the New York Broadband Program Office and the FCC as part of the Phase 3 funding.
Carmen O’Neill, Assistant Director of Engineering, attributes Vantage Point’s success in these funding programs to the company’s unique combination of expertise. “Grant and loan applications typically require both engineering plans and financial analysis. Because Vantage Point has both engineering and consulting under one roof, our clients’ applications benefit from the synergy and collaboration of those experts working together.”
The company’s success had been supported by other factors, as well. “I think part of our success is from our creativity, to be honest,” said Andy Deinert, Network & Security Services Manager. “We have been really quite successful working on the network designs and business plans for new and unusual scenarios. Having the in-house expertise and experience across the board is obviously a great asset to our clients in that regard.”
Kristy Szabo, Director of Consulting, agrees, adding “We have secured loans and grants for clients in a huge variety of scenarios, from mergers and acquisitions to debt refinancing to new broadband investments. That experience works in favor of the companies we work with, because we can take lessons learned from one situation and apply it to other, new situations. It’s really unique and powerful.”
All agree, however, that the greatest driver of Vantage Point’s success in securing funding for broadband networks has been the company’s focus on client relationships. “We put clients first every day,” says Kevin Kloehn, Vice President of Customer Relations. “We get to know them – the company, the operation, the network, their team, their goals. There’s definitely a personal touch. Do we make sure their network designs are future-proofed and their financial analysis is realistic? Absolutely. But more importantly, we make sure our work is aligned with what they really need.”
“It’s really extraordinary,” said Larry Thompson, Vantage Point CEO. “I’m proud of the dedication and success of our team and the vision of our clients. It’s fulfilling to know that we’re helping our clients improve the lives of the customers they serve by providing better broadband.”