---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-054344"
form_type: "8-K"
ticker: null
cik: "0001821850"
company_name: "Sunlight Financial Holdings Inc."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T05:16:32.446913+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sunlight Financial enters $88.6M secured term loan with Cross River Bank, issues warrant for up to 25.9M shares

## Summary
- Closed $38.8M Tranche 1 and $49.8M Tranche 2 secured term loan with Cross River Bank; matures Oct 2025.
- Repaid $3.6M outstanding on SVB revolver and terminated that facility.
- Issued warrant to CRB Group for up to 25,944,541 shares at $0.01; 12.9M shares vested immediately.
- New loan requires minimum liquidity of $20M and includes first-lien security on all assets of Sunlight and SL Financial.
- Amended loan program agreements cap CRB-held loans at $550M through May 2023, stepping down to $400M.

## SEC filing metadata
- accession: 0001104659-23-054344
- form_type: 8-K
- cik: 0001821850
- company_name: Sunlight Financial Holdings Inc.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1821850/000110465923054344/0001104659-23-054344-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1821850/000110465923054344/tm2314176d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-054344
- JSON: https://secwatch.observer/filing/0001104659-23-054344.json
- Plain text: https://secwatch.observer/filing/0001104659-23-054344.txt

## Key facts
- Debt Financings
  Sunlight Financial Holdings Inc. incurred term loan of $38.8 million Tranche 1 facility and $49.8 million Tranche 2 facility with Cross River Bank maturing October 25, 2025.
  - Instrument: term loan
  - Principal: $38.8 million Tranche 1 facility and $49.8 million Tranche 2 facility
  - Counterparty: Cross River Bank
  - Maturity: October 25, 2025
  - Event: incurrence
  source text: the “Company”) , the Company and Cross River Bank (“CRB”) , entered into a Commitment and Transaction Support Agreement (the “Commitment & Transaction Support Agreement”) pursuant
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821850/000110465923054344/0001104659-23-054344-index.htm
- Material Agreements
  Sunlight Financial Holdings Inc. amended Amended Solar Loan Sale Agreement with Cross River Bank valued at Amended and restated the Existing Solar Loan Sale Agreement (effective 2023-04-25).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Cross River Bank
  - Value: Amended and restated the Existing Solar Loan Sale Agreement
  - Effective: 2023-04-25
  source text: a Second Amended and Restated Loan Sale Agreement amending and restating the Existing Solar Loan Sale Agreement (the “Amended Solar Loan Sale Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821850/000110465923054344/0001104659-23-054344-index.htm
- Material Agreements
  Sunlight Financial Holdings Inc. amended Amended HI Loan Program Agreement with Cross River Bank valued at Amended and restated the Existing HI Loan Program Agreement (effective 2023-04-25).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Cross River Bank
  - Value: Amended and restated the Existing HI Loan Program Agreement
  - Effective: 2023-04-25
  source text: an Amended and Restated Home Improvement Loan Program Agreement amending and restating the Existing HI Loan Program Agreement (the “Amended HI Loan Program Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821850/000110465923054344/0001104659-23-054344-index.htm
- Material Agreements
  Sunlight Financial Holdings Inc. entered into Loan and Security Agreement with Cross River Bank valued at $38.8 million Tranche 1 facility and $49.8 million Tranche 2 facility (effective 2023-04-25).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Cross River Bank
  - Value: $38.8 million Tranche 1 facility and $49.8 million Tranche 2 facility
  - Effective: 2023-04-25
  source text: On the Closing Date, Sunlight, as borrower, entered into a Loan and Security Agreement with CRB, and with SL Financial Holdings Inc., (“SL Financial”) as guarantor (the “Secured Term Loan”). The Secured Term Loan consists of loan commitments for two tranches of loans providing for Tranche 1 Loans and Tranche 2 Loans
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821850/000110465923054344/0001104659-23-054344-index.htm
- Material Agreements
  Sunlight Financial Holdings Inc. amended Amended Solar Loan Program Agreement with Cross River Bank valued at Amended and restated the Existing Solar Loan Program Agreement (effective 2023-04-25).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Cross River Bank
  - Value: Amended and restated the Existing Solar Loan Program Agreement
  - Effective: 2023-04-25
  source text: a Second Amended and Restated Loan Program Agreement amending and restating the Existing Solar Loan Program Agreement (the “Amended Solar Loan Program Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821850/000110465923054344/0001104659-23-054344-index.htm

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