---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-048565"
form_type: "8-K"
ticker: null
cik: "0001397047"
company_name: "FlexShopper, Inc."
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T01:56:40.973996+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FlexShopper enters $20M Basepoint credit facility, amends Waterfall credit agreement

## Summary
- Basepoint facility provides up to $20M for consumer loan origination at 13.42% interest, matures June 7, 2026; $7.4M drawn.
- Amendment No. 17 to Waterfall Credit Agreement consents to Revolution Agreements and formation of subsidiary Flex TX, LLC.
- Key Person definition revised to include any c-suite or EVP; replacement required within 90 days of termination.
- Joinder agreement waives certain historical defaults and adds Flex Revolution, LLC as joint borrower and grantor.
- Asset purchase from Revolution Financial (Oct 2022) facilitated by new borrowing structure under Basepoint facility.

## SEC filing metadata
- accession: 0001213900-23-048565
- form_type: 8-K
- cik: 0001397047
- company_name: FlexShopper, Inc.
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1397047/000121390023048565/0001213900-23-048565-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1397047/000121390023048565/ea180276-8k_flexshopper.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-048565
- JSON: https://secwatch.observer/filing/0001213900-23-048565.json
- Plain text: https://secwatch.observer/filing/0001213900-23-048565.txt

## Key facts
- Debt Financings
  FlexShopper, Inc. incurred credit facility of up to $20 million with BP Fundco, LLC at 13.42% maturing June 7, 2026.
  - Instrument: credit facility
  - Principal: up to $20 million
  - Counterparty: BP Fundco, LLC
  - Rate: 13.42%
  - Maturity: June 7, 2026
  - Event: incurrence
  source text: The Basepoint Credit Facility provides for an up to a $20 million credit facility for the origination of consumer loans. The annual interest rate on loans under the Basepoint Credit Facility is 13.42%. The principal balance outstanding under the Basepoint Credit Facility will due on June 7, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397047/000121390023048565/0001213900-23-048565-index.htm
- Material Agreements
  FlexShopper, Inc. amended Amendment No. 17 to the Credit Agreement with Powerscourt Investments 32, LP (effective 2023-06-07).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Powerscourt Investments 32, LP
  - Effective: 2023-06-07
  source text: On June 7, 2023, FlexShopper 2, LLC, as the Borrower, and Powerscourt Investments 32, LP, as administrative agent and lender, entered into Amendment No. 17 to the Credit Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397047/000121390023048565/0001213900-23-048565-index.htm

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