---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-028523"
form_type: "8-K"
ticker: "SACH"
cik: "0001682220"
company_name: "Sachem Capital Corp."
filed_at: "2023-03-03T23:59:59+00:00"
generated_at: "2026-06-18T13:13:59.588196+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sachem Capital enters $45M revolving credit facility with Needham Bank, refinances mortgage

## Summary
- Entered $45M revolving credit facility with Needham Bank, expandable to $75M, secured by substantially all assets.
- Credit facility matures March 2, 2026, with one-year extension option; interest at prime minus 0.25% (floor 4.50%).
- Refinanced $1.4M mortgage into $1.66M loan from New Haven Bank at 5.75% initial rate, maturing March 1, 2038.
- New mortgage is non-recourse, secured by properties at 698 Main St and 568 East Main St, Branford, CT.

## SEC filing metadata
- accession: 0001104659-23-028523
- form_type: 8-K
- ticker: SACH
- cik: 0001682220
- company_name: Sachem Capital Corp.
- filed_at: 2023-03-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1682220/000110465923028523/0001104659-23-028523-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1682220/000110465923028523/tm238526d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-028523
- JSON: https://secwatch.observer/filing/0001104659-23-028523.json
- Plain text: https://secwatch.observer/filing/0001104659-23-028523.txt

## Key facts
- Debt Financings
  Sachem Capital Corp. incurred revolving credit of $45 million with Needham Bank at the greater of (i) the annual rate of interest equal to the 'prime rate,' as pub maturing March 2, 2026.
  - Instrument: revolving credit
  - Principal: $45 million
  - Counterparty: Needham Bank
  - Rate: the greater of (i) the annual rate of interest equal to the 'prime rate,' as pub
  - Maturity: March 2, 2026
  - Event: incurrence
  source text: On March 2, 2023, Sachem Capital Corp. (the “ Company ”) entered into Credit and Security Agreement (the “ Credit Agreement ”), with Needham Bank, a Massachusetts co-operative bank, as the administrative agent (the “ Administrative Agent ”) for the lenders party thereto (the “ Lenders ”) with respect to a $45 million revolving credit facility (the “ Credit Facility ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1682220/000110465923028523/0001104659-23-028523-index.htm
- Material Agreements
  Sachem Capital Corp. entered into Credit Agreement with Needham Bank valued at $45 million (effective 2023-03-02).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Needham Bank
  - Value: $45 million
  - Effective: 2023-03-02
  source text: On March 2, 2023, Sachem Capital Corp. (the “ Company ”) entered into Credit and Security Agreement (the “ Credit Agreement ”), with Needham Bank, a Massachusetts co-operative bank, as the administrative agent (the “ Administrative Agent ”) for the lenders party thereto (the “ Lenders ”) with respect to a $45 million revolving credit facility (the “ Credit Facility ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1682220/000110465923028523/0001104659-23-028523-index.htm

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