---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-013318"
form_type: "8-K"
ticker: "ARTW"
cik: "0000007623"
company_name: "ARTS WAY MANUFACTURING CO INC"
filed_at: "2022-05-23T23:59:59+00:00"
generated_at: "2026-06-25T08:26:36.410170+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Art's-Way Manufacturing enters $900K credit facility with Bank Midwest

## Summary
- $550,000 revolving line of credit matures Nov 30, 2022, with monthly interest-only payments.
- $350,000 term loan matures May 15, 2027; 59 payments of $2,971.50 plus final ~$269,517.
- Interest floats at Prime + 2% (floor 5%, currently 6%); no prepayment penalty.
- Facility secured by all existing security documents including mortgages and guarantees.
- Proceeds for reserve operating purposes; authorized draws by CFO Michael Woods and CEO David King.

## SEC filing metadata
- accession: 0001437749-22-013318
- form_type: 8-K
- ticker: ARTW
- cik: 0000007623
- company_name: ARTS WAY MANUFACTURING CO INC
- filed_at: 2022-05-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/7623/000143774922013318/0001437749-22-013318-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/7623/000143774922013318/artw20220523_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-013318
- JSON: https://secwatch.observer/filing/0001437749-22-013318.json
- Plain text: https://secwatch.observer/filing/0001437749-22-013318.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.