What happened to BEAD? Deployments slow even as federal and state funding looms

Uncertainty breeds caution, especially when money itself costs more and is hard to get. But, with the $42 billion Broadband Equity Access and Deployment (BEAD) spigot set to turn on in about six months, deployments have actually slowed. Financing is indeed difficult, but not just because interest rates are high. The end of the Affordable Connectivity Program (ACP) in May ended a guaranteed cashflow that investors and lenders liked. Uncertainty about the fate of the ACP, in addition to concerns about some of the requirements of the BEAD program, are leading lenders to hold back on broadband funding.