Let's Get Surety #138 A Closer Look at the BEAD Program
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Jun 10, 2025 
In this insightful discussion, Philip Macres, a Principal at Klein Law Group, who specializes in supporting telecommunications providers, shares his expertise on the Broadband Equity, Access, and Deployment (BEAD) Program. The conversation explores the program’s origin and its evolving role in enhancing broadband access. Philip highlights the importance of performance bonds and how they can streamline funding for underserved areas. He also discusses the challenges ISPs face in securing grants and the vital role of surety professionals in navigating these complexities.
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BEAD Program Purpose
- The BEAD program allocates $42.5 billion to bring broadband to rural and underserved areas.\n- It channels funding through state broadband offices to deploy high-speed internet in remote locations.
Performance Bond Waiver Wins
- Letter of credit requirements were a barrier for smaller ISPs to access BEAD funds.\n- A coalition successfully lobbied NTIA to allow performance bonds as an alternative security mechanism.
NESBP's Long Involvement Story
- NESBP became involved with ISP bonding issues starting in 2017 due to a small ISP's difficulty obtaining a letter of credit.\n- This issue culminated in hearings on Capitol Hill highlighting the need for alternatives like surety bonds.