FlexShopper (NASDAQ: FPAY) updates credit agreement for interim working capital funding

Rhea-AI Filing Summary

FlexShopper, Inc. entered into amendments to its existing financing arrangements to address near-term liquidity needs. Through its wholly owned subsidiary FlexShopper 2, LLC, the company and Powerscourt Investments 50, LP, as administrative agent, amended their Credit Agreement and related Fee Letter on August 18, 2025. The changes permit the administrative agent to provide interim financing to the borrower to fund the company’s immediate working capital requirements. These amendments build on the original March 27, 2024 credit facilities and prior amendments completed in April 2025.

Insights

Credit and capital structure analyst

FlexShopper adds interim financing capacity to cover immediate working capital.

FlexShopper has modified its Credit Agreement and Fee Letter so that its existing administrative agent, Powerscourt Investments 50, LP, can provide interim financing to FlexShopper 2, LLC. This step expands flexibility within an already established funding framework rather than creating a new lending relationship.

The explicit reference to funding "immediate working capital requirements" indicates a focus on near-term liquidity to support day-to-day operations. The amendments follow earlier changes to the same Credit Agreement in April 2025, suggesting active management of financing terms as conditions evolve.

Actual impact will depend on how much interim financing is drawn and on future disclosures about borrowing levels and covenant terms in subsequent company filings.

8-K Event Classification

2 items: 1.01, 9.01

2 items

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.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

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

FlexShopper reported that its subsidiary FlexShopper 2, LLC amended an existing Credit Agreement and Fee Letter with Powerscourt Investments 50, LP to allow interim financing that can be used to fund the company’s immediate working capital requirements.

Who is the lender in FlexShopper’s updated credit arrangements?

The administrative agent and lender is Powerscourt Investments 50, LP, an affiliate of Waterfall Asset Management, LLC, with Computershare Trust Company, National Association serving as paying agent under the broader Credit Agreement.

How do these amendments relate to FlexShopper’s prior credit agreements?

The amendments build on a Credit Agreement originally entered into on March 27, 2024, and previously modified by amendments dated April 9, 2025 and April 30, 2025, along with a related Fee Letter executed on March 27, 2024.

What is the purpose of the interim financing for FlexShopper?

The filing states that the amendments permit the administrative agent to provide interim financing to FlexShopper 2, LLC specifically to fund FlexShopper, Inc.’s immediate working capital requirements.

Where can investors find the full terms of FlexShopper’s new credit amendments?

The complete terms are contained in Exhibit 10.1, titled “Amendment No. 3 to Credit Agreement and Amendment No. 1 to Fee Letter,” which is filed as part of this report and incorporated by reference.

Did FlexShopper change any executives in connection with this filing?

No executive changes are disclosed; the report is signed on behalf of FlexShopper, Inc. by John Davis, President and Chief Operating Officer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →

Accepted by SEC EDGAR 08/20/2025 - 05:00 PM Learn about SEC filing dates

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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 18, 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 18, 2025

Item 1.01. Entry into a Material Definitive Agreement.

As previously disclosed, on March 27, 2024, the Company, through FlexShopper 2, LLC, its wholly-owned subsidiary (the “Borrower”), entered into a Credit Agreement with Powerscourt Investments 50, LP, an affiliate of Waterfall Asset Management, LLC, as administrative agent (in such capacity, the “Administrative Agent”), Computershare Trust Company, National Association, as paying agent, and various lenders from time to time party thereto, as subsequently amended by Amendment No. 1 to Credit Agreement, dated as of April 9, 2025, and Amendment No. 2 to Credit Agreement, dated as of April 30, 2025, between the Borrower and the Administrative Agent (as amended, supplemented and otherwise modified, the “Credit Agreement”). Additionally, on March 27, 2024, the Borrower entered into a Fee Letter with the Administrative Agent (as amended, supplemented and otherwise modified, the “Fee Letter”).

On August 18, 2025, the Borrower and the Administrative Agent amended the Credit Agreement and the Fee Letter to permit the Administrative Agent to provide interim financing to the Borrower to fund the Company’s immediate working capital requirements.

The foregoing summary is qualified in its entirety by reference to the full text of Amendment No. 3 to Credit Agreement and Amendment No. 1 to Fee Letter, attached as Exhibit 10.1, which is incorporated herein in its entirety.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The exhibits listed in the following Exhibit Index are filed as part of this current report.

Exhibit No.		Description
10.1		Amendment No. 3 to Credit Agreement and Amendment No. 1 to Fee Letter, dated as of August 18, 2025, between FlexShopper 2, LLC and Powerscourt Investments 50, LP, as administrative agent and as the lender.
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.
Date: August 20, 2025	By:	/s/ John Davis
		Name:	John Davis
		Title:	President and Chief Operating Officer

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