FlexShopper, Inc.: debt financing — FlexShopper subsidiary defaults triggered; short forbearance to Aug 22, 2025

FlexShopper, Inc.

FlexShopper 2, LLC received Notice of Events of Default on Aug 12 for misrepresentations and false info in financial statements.
Forbearance agreement runs through Aug 22, 2025; lenders forbear from exercising remedies during that period.
Borrower paid $180k in legal fees and acknowledged defaults have triggered obligations under the Validity Guaranty.
Parties exploring long-term financing solutions; any additional default ends forbearance immediately.

item 1.01 item 2.04 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FlexShopper, Inc. reported a default on credit facility with Powerscourt Investments 50, LP.

Instrument: credit facility
Counterparty: Powerscourt Investments 50, LP
Event: default

Exact text from the filing

On August 12, 2025, the Relevant Parties (as defined below) received a Notice of Events of Default and Reservation of Rights from the Administrative Agent (the “Notice”), asserting that a number of Events of Default (as defined in the Credit Agreement) and Servicer Defaults (as defined in the Servicing Agreement described below) and have occurred and are continuing under the provisions of the Credit Agreement and the Servicing Agreement

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Source: SEC EDGAR

accession 0001213900-25-078003

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