---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-023159"
form_type: "8-K"
ticker: "KRT"
cik: "0001758021"
company_name: "Karat Packaging Inc."
filed_at: "2023-06-22T23:59:59+00:00"
generated_at: "2026-06-13T19:12:31.738224+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Karat Packaging increases standby LC sublimit to $5M under existing Hanmi Bank line

## Summary
- Amendment dated June 20, 2023 raises standby letter of credit sublimit to $5M.
- Existing $40M line of credit remains unchanged; secured by company assets.
- No commitment fee on undrawn portion; interest payable monthly.
- Agreement is with Lollicup USA Inc. as borrower; Hanmi Bank as lender.

## SEC filing metadata
- accession: 0001628280-23-023159
- form_type: 8-K
- ticker: KRT
- cik: 0001758021
- company_name: Karat Packaging Inc.
- filed_at: 2023-06-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758021/000162828023023159/0001628280-23-023159-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758021/000162828023023159/krt-20230620.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-023159
- JSON: https://secwatch.observer/filing/0001628280-23-023159.json
- Plain text: https://secwatch.observer/filing/0001628280-23-023159.txt

## Key facts
- Material Agreements
  Karat Packaging Inc. amended Amendment with Hanmi Bank valued at $5,000,000 (effective 2023-06-20).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Hanmi Bank
  - Value: $5,000,000
  - Effective: 2023-06-20
  source text: The Line of Credit also includes a standby letter of credit sublimit, which was amended and increased to $5,000,000 on June 20, 2023 (the "Amendment").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758021/000162828023023159/0001628280-23-023159-index.htm

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