The Public Radio Fund is currently accepting applications from licensees and prospective licensees of noncommercial, educational radio stations. The purpose of the Fund is to loan affordable capital for asset-based projects, such as buying radio stations that expand program services to new and existing audiences.
We welcome the opportunity to meet your financing needs and have a streamlined application process. You won’t need to spend valuable time explaining your business, because our experienced staff understand public radio business models, the nuances of public broadcasting, and the how revenues are generated. After an application review and formal credit assessment, we will notify you with our decision; approximate loan application processing time may take between 20-30 business days.
If you have financing needs that fall into the following categories, please submit a completed loan application.
Short Term Loans - 6-24 months, $100,000 to $500,000.
Earnest Money Deposit – this loan provides the earnest money deposit, often a point of negotiation in a purchase agreement.
Equipment Loan – this loan is used for the acquisition of equipment.
Bridge Loans - 6-12 months, $500,000 to $3,000,000.
This loan assists a borrower with the acquisition of a station when permanent financing is identified, but is not in place at the time of the station acquisition.
Debt Reserve Pool for Acquisition Loans - 1-5 years, $500,000 to $2,000,000. This loan leverages and helps secure the ultimate financing for an acquisition. The debt reserve pool will typically amount to 12-24 months of debt service payments and will be held as a portion of the financing’s collateral package.
Station Acquisition Loans - 1-5 years, $500,000 to $2,000,000.
Where no permanent financing is in place, this loan is used to acquire a broadcast station.
The terms for the Public Radio Fund loans are set during the application process. Interest rates are tied to PRF’s cost of capital, and are usually between 5%-8%. Administrative fees are 1%. In addition, borrowers are responsible for paying all closing costs.
