---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-026739"
form_type: "8-K"
ticker: null
cik: "0001397047"
company_name: "FlexShopper, Inc."
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T05:56:50.823993+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# FlexShopper refinances credit facility, upsizes to $150M and reduces interest spread to SOFR+9%

## Summary
- New $150M securitization warehouse credit agreement with Powerscourt Investment 50 LP, an affiliate of Waterfall Asset Management.
- Borrowing capacity increased from $110M to $150M; interest rate reduced from SOFR+11% to SOFR+9%.
- Commitment termination date April 1, 2026; all borrowed amounts due 12 months thereafter.
- Proceeds used to refinance and terminate the 2015 Wells Fargo credit agreement and for general corporate purposes.
- Security granted in certain leases and loans held by the borrower subsidiary.

## SEC filing metadata
- accession: 0001213900-24-026739
- form_type: 8-K
- cik: 0001397047
- company_name: FlexShopper, Inc.
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1397047/000121390024026739/0001213900-24-026739-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1397047/000121390024026739/ea0202702-8k_flex.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-026739
- JSON: https://secwatch.observer/filing/0001213900-24-026739.json
- Plain text: https://secwatch.observer/filing/0001213900-24-026739.txt

## Key facts
- Debt Financings
  FlexShopper, Inc. amended revolving credit of up to $150,000,000 with Powerscourt Investment 50, LP at SOFR plus 9% per annum maturing on the date that is 12 months following the Commitment Termination Date.
  - Instrument: revolving credit
  - Principal: up to $150,000,000
  - Counterparty: Powerscourt Investment 50, LP
  - Rate: SOFR plus 9% per annum
  - Maturity: on the date that is 12 months following the Commitment Termination Date
  - Event: amendment
  source text: deductions described in the 2024 Credit Agreement. Under the terms of the 2024 Credit Agreement, subject to the satisfaction of certain conditions, the Borrower may borrow up to $150,000,000 from the Lender until the Commitment Termination Date and must repay all borrowed amounts one year thereafter, on the date that is 12 months following the Commitment Termination
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397047/000121390024026739/0001213900-24-026739-index.htm
- Debt Financings
  FlexShopper, Inc. incurred credit facility of up to $150,000,000 with Powerscourt Investment 50, LP at SOFR plus 9% per annum maturing on the date that is 12 months following the Commitment Termination Date.
  - Instrument: credit facility
  - Principal: up to $150,000,000
  - Counterparty: Powerscourt Investment 50, LP
  - Rate: SOFR plus 9% per annum
  - Maturity: on the date that is 12 months following the Commitment Termination Date
  - Event: incurrence
  source text: deductions described in the 2024 Credit Agreement. Under the terms of the 2024 Credit Agreement, subject to the satisfaction of certain conditions, the Borrower may borrow up to $150,000,000 from the Lender until the Commitment Termination Date and must repay all borrowed amounts one year thereafter, on the date that is 12 months following the Commitment Termination
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397047/000121390024026739/0001213900-24-026739-index.htm

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