---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-005157"
form_type: "8-K"
ticker: "SGRP"
cik: "0001004989"
company_name: "SPAR Group, Inc."
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T14:00:30.207209+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# SPAR Group increases US revolver to $28M, Canadian to CDN$2M in Sixth Modification

## Summary
- US revolving credit facility raised to $28M from $17.5M; Canadian facility to CDN$2M from CDN$1.5M.
- Interest rate: Prime + 1.90% (min 6.75%); as of Jan 31, 2023, rate was 8.45% on $13.5M outstanding.
- Facility fees include $28,000 upfront for US increase and $4,000 for Canadian increase.
- Unbilled accounts cap for US borrower raised to $7M from $6.5M; credit facility extended to Oct 10, 2024.
- Borrowers paid $28,000 fee for the Sixth Modification; NM Loan Parties were in compliance with covenants as of Dec 31, 2022.

## SEC filing metadata
- accession: 0001437749-23-005157
- form_type: 8-K
- ticker: SGRP
- cik: 0001004989
- company_name: SPAR Group, Inc.
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1004989/000143774923005157/0001437749-23-005157-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1004989/000143774923005157/sgrp20230221_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-005157
- JSON: https://secwatch.observer/filing/0001437749-23-005157.json
- Plain text: https://secwatch.observer/filing/0001437749-23-005157.txt

## Key facts
- Debt Financings
  SPAR Group, Inc. amended credit facility of US$28 million and CDN$2 million with North Mill Capital, LLC, d/b/a SLR Business Credit at Prime Rate designated from time to time by Wells Fargo Bank; plus one and nine-t.
  - Instrument: credit facility
  - Principal: US$28 million and CDN$2 million
  - Counterparty: North Mill Capital, LLC, d/b/a SLR Business Credit
  - Rate: Prime Rate designated from time to time by Wells Fargo Bank; plus one and nine-t
  - Event: amendment
  source text: On February 1, 2023, the NM Loan Parties and NM executed and delivered a Sixth Modification Agreement, effective immediately (the " Sixth Modification Agreement "), pursuant to which the NM Loan Parties and NM agreed to increase the amount of the US Revolving Credit Facility to US$28 million and increase the Canada Revolving Credit Facility to CDN$2 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1004989/000143774923005157/0001437749-23-005157-index.htm

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