The construction of KVPR’s broadcast center in 2016 was an investment in the long-term future public radio in the Central Valley. The roughly $4 million project was funded through a capital campaign that began in the early 2000s. In addition to donations from hundreds of people, the project was ultimately realized through construction financing from Fresno’s United Security Bank and a subsequent 10-year commercial loan, with a balloon payment due in August 2026.
In addition to monthly principal and interest payments, the station has made additional principal payments over the last decade, which brings the amount due in the August balloon payment to $674,000.
KVPR intends to fully pay off this loan by the August 2026 deadline, which means the station will own the broadcast center and the land beneath it free and clear. The loan is the only debt which KVPR owes. This plan is also part of KVPR’s strategy moving forward. By retiring this debt, the station will free up over $40,000 a year in principal and interest payments, which can then be reinvested back into station operations. “This would be a big boost to our sustainability, precisely at a time when that flexibility is most needed, following the federal defunding of public media,” said KVPR President and General Manager Joe Moore…