New Fund Will Lend Money to Public-Radio Stations
August 11, 2006 | Read Time: 1 minute
A new fund to lend money to public-radio institutions has been created by the Ford Foundation and two other groups, reports the Associated Press.
The fund is designed to allow individual and institutional investors to lend money to public-radio stations for pressing needs, such as buying new broadcast channels when they come on the market.
Ford put in $1.5-million to start the new fund, along with the Calvert Social Investment Foundation and Public Radio Capital, a nonprofit group in Englewood, Colo. The Calvert Foundation, in Bethesda, Md., has already lent $4.5-million to the new fund, money it raised from investors.
