<a href="https://laohu8.com/S/AIRT">Air T</a> Inc. Secures Amended Financing Agreement with Alerus, Extending Credit Limit to $20 Million and Lowering Interest Rates
Air T Inc. and its subsidiaries have entered into a significant amendment to their existing corporate loan agreements with Alerus Financial, National Association. As of September 3, 2025, the amendment, known as Amendment No. 5, introduces several key changes to the revolving credit agreement. Notably, the interest rate has been decreased to a 1-month SOFR plus 1.90%, and the maturity date has been extended to August 28, 2027. The revolving credit commitment has been increased to a maximum principal amount of $20 million. Additionally, financial covenants will now be measured semi-annually, with the requirement for quarterly financial statements to be delivered to Alerus. The overline note provisions have been eliminated. Furthermore, Term Note A has been amended and restated with a revised interest rate of 1-month SOFR plus 2.00%, and a swap arrangement has been entered into, fixing the rate at 5.62% until its maturity on August 15, 2029.
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