---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-25-000232"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2025-08-04T23:59:59+00:00"
generated_at: "2026-05-17T21:29:04.739697+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# BayFirst discontinues Bolt SBA 7(a) loan program, cuts 51 jobs, suspends dividend

## Summary
- Bolt loan program (SBA 7(a) working capital) discontinued effective immediately as part of strategic review.
- 51 positions eliminated (26 Bolt, 25 other areas), saving $6M annually; 17% of workforce.
- Q2 2025 charge-offs and fair value write-downs on high-risk SBA 7(a) loans recorded; Q3 restructuring charge expected.
- Dividend payments suspended and directors forgo board fees to offset impacts.
- Company seeks to sell Bolt loan balances and origination platform to an unaffiliated third party.

## SEC filing metadata
- accession: 0001649739-25-000232
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2025-08-04T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000232/0001649739-25-000232-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973925000232/bafn-20250804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-25-000232
- JSON: https://secwatch.observer/filing/0001649739-25-000232.json
- Plain text: https://secwatch.observer/filing/0001649739-25-000232.txt

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