FlexShopper (NASDAQ: FPAY) gets short extension on loan forbearance

Rhea-AI Filing Summary

FlexShopper, Inc. reported that the administrative agent under its existing credit facility has extended the limited forbearance period previously agreed with its subsidiaries FlexShopper 2, LLC and FlexShopper, LLC. The new forbearance period runs through the earlier of September 3, 2025, or the occurrence of any additional event of default under the credit agreement or servicer default under the servicing agreement, other than the specified existing defaults. All other terms of the limited forbearance and reaffirmation remain unchanged and in full force and effect.

Insights

Credit & Capital Structure Analyst

FlexShopper gains a short extension of lender forbearance while existing defaults remain.

FlexShopper discloses that its subsidiaries and the administrative agent, Powerscourt Investments 50, LP, have extended a previously agreed limited forbearance under the credit and servicing agreements. The new forbearance period lasts until the earlier of September 3, 2025 or the occurrence of additional events of default or servicer defaults beyond the already specified ones.

This indicates that prior defaults or issues under the credit arrangement continue, and the lender is temporarily refraining from exercising certain rights, rather than permanently waiving them. The forbearance and reaffirmation remain otherwise unmodified and in full force, so the economic terms of the facility and the scope of the specified defaults are unchanged in this update.

The short duration of the extension suggests an interim accommodation while the parties address the underlying issues. Actual outcomes for the company’s capital structure will depend on what happens by September 3, 2025 and whether any additional defaults or servicer issues arise that would end the forbearance earlier.

8-K Event Classification

Item 1.01 — Entry into a Material Definitive Agreement

1 item

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 22, 2025

 FLEXSHOPPER, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-37945		20-5456087
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

901 Yamato Road, Suite 260 Boca Raton, Florida		33431
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (855) 353-9289

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		FPAY		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

CURRENT REPORT ON FORM 8-K

FlexShopper, Inc. (the “Company”)

August 22, 2025

Item 1.01. Entry into a Material Definitive Agreement.

On August 18, 2025, FlexShopper 2, LLC and FlexShopper, LLC, subsidiaries of the Company, and Powerscourt Investments 50, LP, as administrative agent (the “Administrative Agent”), entered into a Limited Forbearance and Reaffirmation, dated as of August 16, 2025 (the “Forbearance and Reaffirmation”), as previously reported by the Company in its current report on Form 8-K filed on August 18, 2025 with the SEC.

On August 22, 2025, the Administrative Agent extended the Forbearance Period specified in Section 1 of the Forbearance and Reaffirmation to be the period through the earlier of (i) September 3, 2025, and (ii) the occurrence of any additional Event of Default under the Credit Agreement or Servicer Default under the Servicing Agreement other than the Specified Defaults (as each such capitalized term is defined in the Forbearance and Reaffirmation). The Forbearance and Reaffirmation otherwise remains unmodified and in full force and effect.

1

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.
Date: August 25, 2025	By:	/s/ John Davis
		Name:	John Davis
		Title:	President and Chief Operating Officer

2

FAQ

What did FlexShopper (FPAY) disclose in this 8-K filing?

FlexShopper, Inc. reported that its subsidiaries and the administrative agent under its credit facility executed an extension of a limited forbearance period, keeping the existing forbearance and reaffirmation agreement otherwise unchanged and in full force and effect.

How long does the extended forbearance period for FlexShopper last?

The extended forbearance period runs through the earlier of September 3, 2025, or the occurrence of any additional event of default under the credit agreement or servicer default under the servicing agreement, other than the specified existing defaults.

Which FlexShopper entities are parties to the forbearance extension?

FlexShopper 2, LLC and FlexShopper, LLC, both subsidiaries of FlexShopper, Inc., entered into the limited forbearance and reaffirmation with Powerscourt Investments 50, LP as administrative agent.

Did the terms of FlexShopper’s forbearance agreement change apart from the date extension?

No. The company states that the forbearance and reaffirmation otherwise remains unmodified and in full force and effect; only the forbearance period was extended.

What triggers the end of FlexShopper’s extended forbearance period?

The extended forbearance ends at the earlier of September 3, 2025, or the occurrence of any additional event of default under the credit agreement or servicer default under the servicing agreement beyond the already specified defaults defined in the forbearance and reaffirmation.

Who is the administrative agent in FlexShopper’s forbearance arrangement?

Powerscourt Investments 50, LP is the administrative agent under the limited forbearance and reaffirmation with FlexShopper’s subsidiaries.