by Reed Anfinson, Editor
Benson’s Economic Development Authority (EDA) approved a $30,000 loan for John Jennings and Justin Klinghagen to facilitate the purchase of the KSCR/KBMO Radio.
Jennings and Klinghagen are negotiating the purchase of the radio stations from owner Paul Estenson. Estenson, who is a member of the EDA board, did not attend the meeting citing a conflict of interest in the loan decision.
The funds will be used for the upgrade of the station’s outdated equipment, Jennings told the EDA board at its meeting last Thursday. The purchase includes the station’s building and tower site. Jennings and Klinghagen are partners in KKLN “The Loon” in Willmar.
The two are investing $30,000 of their own assets into the business as well as seeking financing through the First Security Bank in Benson and the Small Business Administration.