Air T Inc. Secures New Term Loan and Revolving Credit Facility with Alerus Financial
Air T Inc. has secured a $6 million term loan from Alerus Financial, replacing a $3.5 million loan from Bridgewater Bank. The loan matures in 2032 with an interest rate of 5.0% or 1.90% plus the CME one-month term SOFR rate. It is secured by assets and shares, with annual principal payments starting in 2026. The agreement includes various covenants and change of control restrictions.
Air T Inc. and its subsidiaries, including Air T Acquisition 22.1, LLC and Contrail Aviation Services, LLC, have entered into new financing agreements with Alerus Financial, National Association. On November 24, 2025, 22.1 secured a $6 million term loan from Alerus, with proceeds used to repay an existing $3.5 million loan from Bridgewater Bank. The new loan matures on or before November 24, 2032, carries an interest rate of the greater of 5.0% or 1.90% plus the CME one-month term SOFR rate, and requires annual principal payments beginning September 2026. The loan is secured by all assets and membership interests of 22.1, 200,000 shares of Air T Funding Trust Preferred Securities, and an investment account of Air T, Inc. The agreement includes various affirmative and negative covenants, as well as change of control restrictions. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Air T Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000353184-25-000135), on December 01, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT) Original Document: here
