EverQuote ups credit line to $35M and secures $10M term loan through June 2027

EverQuote, Inc.

Revolver increased from $25M to $35M, matures July 15, 2025; interest at greater of 4.25% or prime.
New term loan of up to $10M drawable by Dec 31, 2023, maturing June 30, 2027; interest at prime +0.25%.
Covenants: asset coverage ratio ≥1.5x through Dec 2023; thereafter fixed charge coverage ≥1.25x and leverage ≤3.0x.
Borrowing base: up to 85% of eligible accounts receivable; collateralized by substantially all assets.
Facility fees of $52,500 (revolver) and $25,000 (term loan) paid at closing.

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