1st Franklin Financial amends loan covenant to min EBITDA ratio of 1.25x; pays $69K fee

1st FRANKLIN FINANCIAL CORP

Entered Seventh Amendment to Loan and Security Agreement with Wells Fargo as agent.
EBITDA Ratio covenant set at not less than 1.25 to 1.0, effective March 31, 2024.
Paid $69,000 amendment fee to lenders as condition of effectiveness.
Reconfirmed security interests, indebtedness, and no default or known claims.
Lenders include Wells Fargo, First Horizon Bank, and Renasant Bank.

item 2.03 item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

1st FRANKLIN FINANCIAL CORP amended Seventh Amendment with Wells Fargo Bank, N.A. (effective 2024-04-01).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, N.A.
Effective: 2024-04-01

Exact text from the filing

On April 1, 2024, 1 st Franklin Financial Corporation (the “Company”) entered into a Seventh Amendment (the “Seventh Amendment”) to the Amended and Restated Loan and Security Agreement dated as of November 19, 2019

View on SEC.gov

Browse all material agreements →

Source: SEC EDGAR

accession 0000038723-24-000059

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.