Superior Roll Forming is a family-owned metal forming company in Medina County, Ohio. They have been supplying parts for the automotive, construction, environmental, furniture, and retail fixture industries for over 50 years.
The company needed to modernize its plant and equipment to address the complexity of their customers’ applications. Additional equipment enabled the company to perform additional secondary operations to add value for their customers.
The Borrower was looking to finance the new building over a 20 year term as well as realize operating cost savings from the consolidation of off site facilities on their main campus.
Superior was able to access investment grade interest rates and finance their project over a 20 year long-term fixed-rate basis through the Development Finance Authority Jobs & Investment Bond Fund Program at a rate of 6.375%
Through a capital lease structure the Port was able to deliver sales tax savings on construction materials related to the Project.
Project Cost: $3.145 million
$3,145,000 Development Finance Authority Bonds
DFA Fixed Rate Bonds: 6.375%
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