Project details:
- Funding: PADD Revolving Loan Fund
- Jobs created: 12
- Location: Gering, NE
Vistabeam is a wireless internet provider based in Gering. When the opportunity came up to purchase a new building for their broadband facilities, they needed to move fast. The problem was that they didn’t have enough cash on hand for the down payment or the upgrades the building needed.
Their bank couldn’t cover all of it. That’s where PADD came in.
Through the revolving loan fund, PADD provided an equipment loan that helped Vistabeam buy and improve the building. The investment allowed them to upgrade their equipment, expand their service, and add 12 new jobs in Gering.
In a region where broadband access is still a challenge for many communities, a growing internet provider isn’t just good for business. It’s good for everyone who depends on reliable connectivity.
“When an opportunity to purchase a new building for our broadband facilities came up, we had to act fast. We did not have enough cash reserve for the down payment or the upgrades that needed to be done. PADD came through for us with a loan that enabled us to buy and improve the building, grow our business and create more jobs in Gering.”
— Matt Larsen, Vistabeam, Gering, NE