---
schema_version: "secwatch.filing_event.v1"
accession: "0000038723-24-000059"
form_type: "8-K"
ticker: null
cik: "0000038723"
company_name: "1st FRANKLIN FINANCIAL CORP"
filed_at: "2024-04-03T23:59:59+00:00"
generated_at: "2026-06-04T03:03:47.892507+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000038723-24-000059
- form_type: 8-K
- cik: 0000038723
- company_name: 1st FRANKLIN FINANCIAL CORP
- filed_at: 2024-04-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03, 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38723/000003872324000059/0000038723-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38723/000003872324000059/na-20240401.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000038723-24-000059
- JSON: https://secwatch.observer/filing/0000038723-24-000059.json
- Plain text: https://secwatch.observer/filing/0000038723-24-000059.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/38723/000003872324000059/0000038723-24-000059-index.htm

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