An electric parking brake includes a motor and a transmission coupling a threaded lead screw to the output shaft of the motor. The transmission preferably includes a plurality of helical gears such that the lead screw and the output shaft are coaxial. A guide shaft extends substantially parallel to and spaced apart from the lead screw. A drive nut threadably receives the lead screw and slidingly receives the elongate guide shaft. A brake cable is connected to the drive nut at a position preferably located midway between the lead screw and the guide shaft. In operation, rotation of the lead screw causes linear motion of the drive nut along the lead screw and the guide shaft which causes tensioning and untensioning of the brake cable. The assembly preferably includes a manual override device operatively connected to the lead screw for manual rotation of the lead screw.