Carrboro gives its weekly paper a loan

May 20, 2009 3:06:22 PM PDT
The Town of Carrboro is helping its local newspaper by giving it cash.According to The News & Observer of Raleigh, the Carrboro Citizen asked for a $50,000 loan and got it. The weekly newspaper wants to print more copies, hire more staff and expand.

The publication is only two years old. The money comes from a fund used to spark local business development.

The paper is hopeful that it can grow beyond its 160 news racks. Carrboro's alderman believes the town is lucky to have a growing newspaper in an age when other papers are cutting staff as revenue declines.