Boston black newspaper stays afloat with new investors

The financially struggling black-owned newspaper will accept a $200,000 loan from the city to avoid shutdown.

The loan will come from the Boston Local Development Corp., a private nonprofit administered by the city that provides cash to small businesses.

The 44-year-old Bay State Banner suspended publication this month, blaming a steep drop in advertising. Its last edition was distributed July 9, and the paper was expected to close by the end of the month, but could return to newsstands this week.

The Bay State Banner has been around for 44 years and is Boston’s only black newspaper.