---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-094752"
form_type: "8-K"
ticker: null
cik: "0001397047"
company_name: "FlexShopper, Inc."
filed_at: "2025-10-01T23:59:59+00:00"
generated_at: "2026-05-17T05:04:12.984561+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Administrative Agent accelerates $164.5M FlexShopper debt; President, COO, three directors resign

## Summary
- Acceleration includes $164.5M principal, $0.88M interest, $1.17M commitment fees, and $1.49M legal costs due immediately.
- FlexShopper LLC terminated as servicer; no further borrowings allowed under Waterfall Credit Agreement.
- President/COO John Davis resigned Sept 25; directors Thomas Katz and Patrick McCrory resigned Sept 26 and 29; no disagreement cited.
- Director Steven Varner resigned Sept 29 citing disagreement with Company's handling of financials and borrowing; Company disputes.
- Filing signed by Chief Restructuring Officer Matthew Doheny, indicating company is in restructuring mode.

## SEC filing metadata
- accession: 0001213900-25-094752
- form_type: 8-K
- cik: 0001397047
- company_name: FlexShopper, Inc.
- filed_at: 2025-10-01T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.04, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1397047/000121390025094752/0001213900-25-094752-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1397047/000121390025094752/ea0259570-8k_flex.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-094752
- JSON: https://secwatch.observer/filing/0001213900-25-094752.json
- Plain text: https://secwatch.observer/filing/0001213900-25-094752.txt

## Key facts
- Debt Financings
  FlexShopper, Inc. faced acceleration on credit facility of $164,498,950 with Computershare Trust Company, National Association, as paying agent, Powerscourt Investments 50, LP, an affiliate of Waterfall Asset Management, LLC, as administrative agent.
  - Instrument: credit facility
  - Principal: $164,498,950
  - Counterparty: Computershare Trust Company, National Association, as paying agent, Powerscourt Investments 50, LP, an affiliate of Waterfall Asset Management, LLC, as administrative agent
  - Event: acceleration
  source text: and made demand for such payment. The obligations of the Borrower due and owing include: (i) the aggregate principal amount outstanding in respect of the loans in the amount of $164,498,950, (ii) the aggregate interest payments due in respect of the loans through and including the date of the Acceleration Notice in the amount of $881,696, (iii) unpaid commitment fees
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397047/000121390025094752/0001213900-25-094752-index.htm

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