MANCHESTER, N.H. —

The Claremont School Board voted Wednesday night to authorize a $4 million bank loan to help with short-term cash flow problems.

Officials said the loan, called a Reimbursement Anticipation Note, or RAN, is similar to a payday loan, advancing funds from a state education grant.

The RAN does not reduce the district's deficit. It is intended to cover daily expenses, including payroll and health insurance.

School leaders also discussed long-term recovery plans, such as reducing next year's operating budget to lower the overall deficit.

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The district is facing a budget shortfall that could reach $5 million.

"I'm committed to continuing to communicate whatever knowledge I have on the st

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