Legal Question in Business Law in Minnesota
not for profit radio station
can a not- for- profit radio station accept a loan from investors, and repay the loan with monies raised from underwritting sales and grants?
Asked on 2/24/08, 2:00 pm
2 Answers from Attorneys
David Anderson
Anderson Business Law LLC
Re: not for profit radio station
If they are LENDING money, they are LENDERS, not investors. Can a Non-profit borrow money? Yes, if a lender is foolish enough to do it.
Source of repayment is immaterial.
Answered on 2/24/08, 4:34 pm
David Anderson
Anderson Business Law LLC
Re: not for profit radio station
If they are LENDING money, they are LENDERS, not investors. Can a Non-profit borrow money? Yes, if a lender is foolish enough to do it.
Source of repayment is immaterial.
Answered on 2/24/08, 4:34 pm
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