Research Reports

Key takeaways

Entered $2,650,000 Business Loan Agreement dated April 30, 2026 with Freedom First Federal Credit Union.

Loan matures May 1, 2036 with initial 60 monthly payments of $19,912.69 at 6.500% interest starting June 1, 2026.

Secured by Deed of Trust on real property at 5290 N. Concourse Dr., Roanoke, VA (Tax Map Nos. 037.07-01-15.01-0000 et al.).

Refinances existing Deed of Trust (Instrument Nos. 200807565, 200807923).

Terminated prior Virginia Real Estate Loan with Nort in connection with new loan closing.

Variable rate after 2031 based on 5-year U.S. Treasury Index plus 2.500% margin (4.500% floor).

Full analysis

Optical Cable Corporation secured a new $2.65 million business loan from Freedom First Federal Credit Union, replacing its prior Virginia Real Estate Loan with Nort. The 10-year facility provides structured payments starting with fixed 6.5% interest for five years, transitioning to a variable rate tied to the 5-year Treasury Index plus 250 basis points, offering interest rate flexibility amid potential market changes. Collateral includes the company's Roanoke headquarters property via Deed of Trust and Assignment of Rents, with cross-collateralization for future advances. Standard covenants include financial reporting, environmental compliance, and restrictions on property use or ownership changes. Termination of the prior loan suggests refinancing to extend maturity and potentially improve terms, enhancing liquidity through 2036 while maintaining secured debt structure.

OCC · Optical Cable Corporation

Summary

Key takeaways

Full analysis