Portland firm gets $3.4 million loan to expand Down East 4G coverage
Portland-based Wireless Partners LLC said it has secured a $3.4 million loan that will help it expand high-speed cellular and broadband service to underserved Down East communities.
The telecommunications firm on Monday said the financing approval, with Mechanics Savings Bank as the lender and the Finance Authority of Maine as the loan’s insurer, will help it move forward with its 4G LTE expansion in eastern Hancock and Washington counties. The news comes after the firm was recently approved as a Pine Tree Development Zone company.
“This project will make it possible for people Down East to have high-quality cell service as they would in any major market throughout the United States,” Bob Parsloe, president and CEO of Wireless Partners, said in a prepared statement. “We are pleased to be partnering with FAME and Mechanics Savings Bank on this important project.”
“This approval had tremendous community support from residents, businesses and community leaders who feel good connectivity is a vital business and safety necessity,” he continued. “I can’t thank the folks of Down East Maine enough for their letters for this project to FAME.”
The project, which is being done in partnership with Verizon Wireless as part of its LTE in Rural America Program, will involve building 32 new sites that will provide 4G LTE coverage.
Most Recent
Most Recent
Comments