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Board approves short-term line of credit for KALW, adding accrued interest to amendment
Summary
After hearing a State of the Station report, the board approved a short-term line of credit for KALW to bridge cash-flow shortfalls, amending the resolution to specify that interest will accrue; trustees and staff described the loan as collateralized by the district-held license and intended as a bridge to a strengthened development program.
The San Francisco Board of Education approved a short-term line of credit for KALW, the district-licensed public radio station, after a presentation from station General Manager Matt Martin and follow-up discussion of finances and governance.
Martin described KALW—s programming and recent growth in local journalism and partnerships, and asked the board for a bridge loan of up to $200,000…
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