It looks like there’s going to be some pretty intense competition for the first chunk of money that’s going to be handed out by the federal government in the name of improving high-speed internet access in rural and underserved areas.

The first $4 billion in funding - out of a total of $7.2 billion - attracted more than 2,100 applications from across the nation, according to the Commerce Department’s National Telecommunications and Information Administration and the Department of Agriculture’s Rural Utilities Service.

So how far will $4 billion go? Not nearly far enough. Those 2,100-plus applications requested more than $27 billion. Sounds like there will be a lot of unhappy applicants by the time this is all over.

“Applicants requested nearly seven times the amount of funding available, which demonstrates the substantial interest in expanding broadband across the Nation,” said Lawrence E. Strickling, Assistant Secretary for Communications and Information and Administrator of NTIA. “We will move quickly but carefully to fund the best projects to bring broadband and jobs to more Americans.”

Who wants the money? Apparently just about everyone. The groups said they received applications from state and local governments, tribal governments, non profits, libraries, universities, hospitals and public safety organizations from across the nation.