THE CHALLENGE

An announcement for second round funding can occur at any time. The agencies involved are mandated to distribute all $7.4 billion by the end of September 2010. Given the fact that our organization has not been in the telecommunications business, we have to deal with a learning curve in addition to an overwhelming task list with an undetermined deadline. Fortunately, first round applicants have done much of the legwork for us as they reveal their business model in the application process. The greatest risk factor we face is the ability to form partnerships with local utilities and electric Coops in a timely manner. Then, there is the challenge of meeting the grant/loan application deadlines. The next risk factor is favorable processing of the applications. The third risk factor is accurate estimates of cost and expense. A fourth risk factor is project time lines. All other risk associated with this project would be customary to any start-up venture including provision of required securities for federal loans and acquisition of start-up venture capital.

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