The financier Mr Dermot Desmond lent the former Fianna Fail press secretary, Mr P.J. Mara, £46,000, which he repaid in 1993, Mr Mara's counsel said.
Mr John McMenamin SC, for Mr Mara, revealed details of the loan during his cross-examination of Century co-founder, Mr James Stafford, who has alleged the loan was for £100,000.
Mr McMenamin put it to Mr Stafford that he had misconstrued the purpose of a meeting attended by Mr Stafford, Mr Desmond, Mr Mara, the other co-founder of Century, Mr Oliver Barry, and the chairman of the station, Mr Laurence Crowley, in 1990.
Mr Stafford has alleged that Mr Desmond said at this meeting that Century owed Mr Mara £30,000. The other four men in attendance deny or have no recollection of such an allegation. Mr Stafford has also made allegations that Mr Barry told him Mr Mara and Mr Ray Burke were demanding money in return for radio licences.
However, Mr McMenamin said it was "plain as a pikestaff" that Mr Stafford had been brought to the meeting to "pour cold water" on a proposal that Mr Mara would be brought in as a consultant to Century. The proposed arrangement was that he would be paid £60,000 to £70,000, half of this - £30,000 - in advance.
Mr Stafford's allegations had been given substantial publicity and there had been the suggestion that Mr Mara was involved in something wrong.
Mr Stafford said he had been invited along to a meeting, where a demand had been made that he pay a sum of money. He had received no explanation of what the demand was for.
