• by Ray Schultz , November 21, 2024

The New Hampshire Business Finance Authority (BFA) has approved f a $1 million loan to the New Hampshire Union Leader, the state’s largest newspaper.

The funds are intended to shore up the Union Leader’s financial position. 

The BFA board voted to approve the loan on November 18, with Vice Chair Stephen Duprey recusing himself. 

The terms of the five-year loan require that rank-and-file employees receive 100% of their pensions. 

“We’re excited to play a role in helping the Union Leader build a stable foundation for the future, which will not only benefit the publication but also ensure its employees can fully benefit from their hard-earned pensions,” says James Key-Wallace, executive director of the BFA.

The loan involves significant equity and collateral contributions from private investors and an additional $1 million in equity investment and $750,000 in cash collateral, the BFA says.