Air T Inc. Secures New Term Loan and Revolving Credit Facility with Alerus Financial
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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.
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