---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-008161"
form_type: "8-K"
ticker: null
cik: "0000933738"
company_name: "ENGLOBAL CORP"
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T22:12:07.034633+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# ENGlobal enters $1.25M credit facility with Executive Chairman, repays Pac West loan

## Summary
- Credit agreement with Alliance 2000 (beneficial owner of >22% stock, controlled by Exec. Chairman Coskey) for up to $1.25M.
- Initial term loan of $1M drawn; additional $250K discretionary; interest rate 8.5%, one-year term, quarterly interest-only payments.
- Proceeds repaid Pacific Western credit facility in full; remainder for general corporate purposes.
- Company expects net loss in Q2 but monthly results improved; closed construction/field services, reduced payroll ~50% from peak.
- Backlog as of May 31, 2023 over $16M; goal of returning to profitability by 2024.

## SEC filing metadata
- accession: 0001654954-23-008161
- form_type: 8-K
- cik: 0000933738
- company_name: ENGLOBAL CORP
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/933738/000165495423008161/0001654954-23-008161-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/933738/000165495423008161/eng_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-008161
- JSON: https://secwatch.observer/filing/0001654954-23-008161.json
- Plain text: https://secwatch.observer/filing/0001654954-23-008161.txt

## Key facts
- Debt Financings
  ENGLOBAL CORP incurred term loan of $1,250,000 with Alliance 2000, Ltd. at 8.5% maturing June 15, 2024.
  - Instrument: term loan
  - Principal: $1,250,000
  - Counterparty: Alliance 2000, Ltd.
  - Rate: 8.5%
  - Maturity: June 15, 2024
  - Event: incurrence
  source text: On June 15, 2023, ENGlobal Corporation, a Nevada corporation (the “ Company ”), entered into a Credit Agreement (the “ Credit Agreement ”) with Alliance 2000, Ltd., a Texas limited partnership (“ Lender ”), pursuant to which Lender has agreed, subject to certain terms and conditions, to extend up to two term loans in the aggregate principal amount of $1,250,000 to the Company (collectively, the “ Term Loans ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/933738/000165495423008161/0001654954-23-008161-index.htm
- Material Agreements
  ENGLOBAL CORP entered into Credit Agreement with Alliance 2000, Ltd. valued at $1,250,000 (effective 2023-06-15).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Alliance 2000, Ltd.
  - Value: $1,250,000
  - Effective: 2023-06-15
  source text: On June 15, 2023, ENGlobal Corporation, a Nevada corporation (the “ Company ”), entered into a Credit Agreement (the “ Credit Agreement ”) with Alliance 2000, Ltd., a Texas limited partnership (“ Lender ”), pursuant to which Lender has agreed, subject to certain terms and conditions, to extend up to two term loans in the aggregate principal amount of $1,250,000 to the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/933738/000165495423008161/0001654954-23-008161-index.htm

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