Come up with a Business plan. FCC licenses usually start around $20000 if you want to broadcast more then a quarter of a mile. And the equipment, including the transmitter and antenna, is easily going to cost in the 30-50 grand range. So figure out what kind of programming you are going to do. Then you need to advertise the fact you are trying to start up a station to the community and create interest. You can do word of mouth, flyers, local TV or radio ads, whatever you need. Then go around to local businesses and ask for donations in return for airtime. Usually local businesses will be happy to give you $100-$1000 if it results in them getting some ads played or what not. Which means you will need to have some experience doing audio editing to create the 30-60 second PSAs and commercials(it's not too difficult to do, but it does take a bit of talent). Then once you get a large chunk of money from businesses, you can always go to your local government(township/town/city etc) and express your need for more startup funds for your station and that that there is much interest in it. I'm sure they would offer to pay for much of it once you show them that people interested. So basically, you need 100 grand. Or you could just do it via streaming audio on the internet... but that's no fun.