---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-005027"
form_type: "8-K"
ticker: null
cik: "0000933738"
company_name: "ENGLOBAL CORP"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T09:06:03.116932+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# ENGlobal amends credit agreement with related-party lender; extends term loans to July 2025, adds $1M revolver

## Summary
- Modifies existing $1.2M term loans: maturity extended to July 2, 2025, interest rate reduced from 8.5% to 8.0%.
- Adds a revolving credit line up to $1M (subject to borrowing base of 95% eligible receivables) at 12.0% interest.
- Accrued unpaid interest (~$72K) and origination fees ($6K) added to term loan principal on closing.
- Lender Alliance 2000, Ltd. is controlled by CEO William A. Coskey; transaction approved by Audit Committee and disinterested board members.
- Mandatory prepayment of term loans if equity or debt capital raised exceeds $2M; revolving credit secured by receivables.

## SEC filing metadata
- accession: 0001654954-24-005027
- form_type: 8-K
- cik: 0000933738
- company_name: ENGLOBAL CORP
- filed_at: 2024-04-25T23:59:59+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/933738/000165495424005027/0001654954-24-005027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/933738/000165495424005027/eng_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-005027
- JSON: https://secwatch.observer/filing/0001654954-24-005027.json
- Plain text: https://secwatch.observer/filing/0001654954-24-005027.txt

## Key facts
- Material Agreements
  ENGLOBAL CORP entered into Amended and Restated Credit Agreement with Alliance 2000, Ltd. valued at $1,200,000 term loans; $1,000,000 revolving credit facility (effective 2024-04-24).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Alliance 2000, Ltd.
  - Value: $1,200,000 term loans; $1,000,000 revolving credit facility
  - Effective: 2024-04-24
  source text: On April 24, 2024 (the “ Closing Date ”), ENGlobal Corporation, a Nevada corporation (the “ Company ”), entered into an Amended and Restated Credit Agreement (the “ Credit Agreement ”) with Alliance 2000, Ltd., a Texas limited partnership (“ Lender ”), pursuant to which the parties amended and restated the Credit Agreement dated June 15, 2023 (the “ Original Credit Agreement ”), between the Company and the Lender to, among other things, (i) modify the existing term loans in the aggregate original principal amount of $1,200,000 (the “ Term Loans ”) to (a) extend the maturity date to July 2, 2025, and (b) reduce the applicable interest rate from 8.5% to 8.0% per annum, and (ii) provide a revolving credit facility (the “ Line of Credit ”) of up to the lesser of (a) the Borrowing Base (as defined below) and (b) $1,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/933738/000165495424005027/0001654954-24-005027-index.htm

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