FlexShopper Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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CURRENT REPORT ON FORM 8-K
FlexShopper, Inc. (the “Company”)
June 7, 2025
Item 1.01. Entry into a Material Definitive Agreement.
Amendments to Basepoint Credit Agreement
On June 7, 2023, Flex Revolution LLC, a wholly owned subsidiary of the Company, Flex Revolution, LLC, and Revolution Financial, Inc., an unrelated entity, (together, the “Borrowers”), entered into a Joinder Agreement to a Credit Agreement (the “Basepoint Credit Agreement”), among the subsidiary guarantors party thereto, the lenders party thereto, the individual guarantor party and BP Fundco, LLC, as administrate agent.
The Basepoint Credit Agreement provides for an up to $20 million credit facility for the origination of consumer loans. The credit facility is backed by eligible principal balance of eligible consumer receivables of the Borrowers’ portfolio. The annual interest rate on loans under the Basepoint Credit Agreement is 13.42%. The principal balance outstanding under the Basepoint Credit Agreement is due on June 7, 2026.
On June 7, 2025, pursuant to the Third Amendment to Credit Agreement among the Borrowers, the subsidiary guarantors party thereto, the lenders party thereto, the individual guarantor party and BP Fundco, LLC, as administrate agent, the Draw Period, where the Borrowers can draw funds from the credit facility, was extended to the earliest to occur of (a) July 31, 2025, and (b) the Draw Period Termination Date; provided, that the Borrowers may seek to extend the Draw Period by an additional one year.
The foregoing summary is qualified in its entirety by reference to the full text of the Third Amendment to Credit Agreement, attached as Exhibit 10.1, which is incorporated herein in its entirety.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The exhibit listed in the following Exhibit Index is filed as part of this current report.
| Exhibit No. | Description | |
| 10.1 | Third Amendment to Credit Agreement, dated June 7, 2025, among Revolution Financial, Inc, Flex Revolution, LLC, the subsidiary guarantors party hereto, the lenders party hereto, FlexShopper, and BP Fundco LLC, as administrative agent. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FLEXSHOPPER, INC. | |||
| Dated: June 12, 2025 | By: | /s/ H. Russell Heiser, Jr. | |
| Name: | H. Russell Heiser, Jr. | ||
| Title: | Chief Executive Officer | ||
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