Millennium is increasing the infrastructure fund cap to keep up with customer demand

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Millennium, a Delavan-based telecommunications solutions provider, has more than doubled its infrastructure fund cap to keep up with customer demand. The fund is raising its cap from $30 million to $75 million to…

Delavan based Millennium, a telecom solutions provider, has more than doubled its infrastructure fund cap to keep up with customer demand. The fund is increasing its cap from $30 million to $75 million to meet additional demand from broadband providers for home loans and capital adjustments to secure grants. The infrastructure fund was created specifically to meet the financial needs of local and regional broadband service providers in rural areas of the United States james kyle, Founder and CEO of Millennium, “Healthcare, education, human connections and a virtual environment are all tools necessary to support today’s community and tomorrow’s leaders and visionaries.” Previously, the infrastructure fund had pledged $30 million to 15 grantees in 12 states and connected more than 90,000 new homes and towers to fiber. The new $75 million funding cap will allow businesses to reach an additional 300,000 homes over the next three years, creating opportunity for an estimated 1 million Americans in rural communities. As the FCC compiles more accurate census maps, the need for broadband deployments in rural areas continues to increase. The Rural Digital Opportunity Fund; the National Telecommunications and Information Administration; the Broadband Equity, Access, and Deployment Program; and several other grant programs help fund these projects over the long term, but there are not many small business funding instruments to fund the initial design and build of these networks. The Millennium Infrastructure Fund increased the cap to meet the needs of these companies depending on their financing options. Typical loan amounts range from $1 million to $5 million and are used for construction financing and fundraising required for the National Telecommunications and Information Administration and other grant programs. Millennium, which was the focus of a march BizTimes Milwaukee Cover Story, has experienced rapid growth and has been named one of America’s Fastest Growing Companies by Inc. Magazine seven times. Kyle said he and his partners plan to grow it into a $1 billion company within the next seven years. The company secured a $155 million investment in late 2021 to support its growth.
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