NEXTNRG, INC. (NXXT): debt financing — NextNRG enters $1M venture debt at ~203% APR; CEO personally guarantees

NEXTNRG, INC.

Loan principal $1M, net proceeds $930k after $70k origination fee; total repayment $1.45M.
24 weekly payments of $60,417; APR ~203%; maturity Oct 13, 2026.
CEO Michael Farkas personally guarantees and secures all assets as collateral.
Negative covenants restrict additional debt unless used to repay this loan; $145k fee per violation.
Broad default triggers including material adverse change, additional financing without consent.

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

NEXTNRG, INC. incurred loan of $1,000,000 with Venture Debt, LLC at $450,000 interest expense, resulting in a total repayment obligation of $1,450,0 maturing October 13, 2026.

Instrument: loan
Principal: $1,000,000
Counterparty: Venture Debt, LLC
Rate: $450,000 interest expense, resulting in a total repayment obligation of $1,450,0
Maturity: October 13, 2026
Event: incurrence

Exact text from the filing

On April 27, 2026, NextNRG, Inc. (the “Company”) entered into a Business Loan and Security Agreement (the “Venture Debt Agreement”), dated as of April 27, 2026, with Venture Debt, LLC (“Venture Debt”), pursuant to which Venture Debt provided the Company a loan in the principal amount of $1,000,000 (the “Venture Debt Loan”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NEXTNRG, INC. entered into Business Loan and Security Agreement with Venture Debt, LLC valued at $1,000,000 (effective 2026-04-27).

Action: entry
Agreement: credit facility
Counterparty: Venture Debt, LLC
Value: $1,000,000
Effective: 2026-04-27

Exact text from the filing

On April 27, 2026, NextNRG, Inc. (the “Company”) entered into a Business Loan and Security Agreement (the “Venture Debt Agreement”), dated as of April 27, 2026, with Venture Debt, LLC (“Venture Debt”), pursuant to which Venture Debt provided the Company a loan in the principal amount of $1,000,000

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

NEXTNRG, INC. filing history →

Source: SEC EDGAR

accession 0001493152-26-020889

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