02 Secure Wireless plans to penetrate 65 cities with fully integrated LTE network



O2 Secure Wireless announced that the company will provide LTE network
coverage to over 500,000 customers in under-served or un-served markets in
Florida, Kentucky, Mississippi, Alabama, North Carolina, and South Carolina.


O2’s LTE network will be capable of download speeds of 25 megabytes per
second.


The $33,000,000 loan will be administered through the Rural Utilities
Service Telecommunications Program, a division of the US Department of
Agriculture.


In August 2011, the Washington office assigned the Company a Government Field
Representative, which has preliminarily approved all 65 cities and towns for
Rural Utilities Service (RUS) funding.


The Rural Broadband Access Loan and Loan Guarantee Program (Broadband
Program) furnishes loans and loan guarantees to provide funds for the costs of
construction, improvement, or acquisition of facilities and equipment needed to
provide service at the broadband lending speed in eligible rural areas with a
populations not to exceed 20,000 residents.


The goal of the Broadband Program is to ensure that rural consumers
enjoy the same quality and range of services that are available in urban and
suburban communities. This Program aims to lend to entities that plan to offer
broadband services at levels that keeps pace with technological innovations
while meeting the demands of customers in rural America. 


The terms are advantageously structured for the loan to be amortized
over the economic life of the network equipment and will bear an interest rate
equivalent to the ten year Treasury bond presently at 2 percent. 


“The remarkably low interest rates are extremely attractive, as
compared to traditional commercial loans, whose offers have been presented at
prime plus 275 basis points. In addition, the USDA offers interest only
payments for the first 12 months during the construction of the network; we
believe this will enable exponential domestic growth. The application has been
submitted for review,” said Val Kazia, CEO of O2 Secure Wireless.


By Telecomlead.com Team
[email protected]