FlexShopper obtains up to $82.5 million via credit agreement

By Rebecca Melvin

Concord, N.H., March 8 – FlexShopper Inc. entered into a credit agreement on March 6, 2015 and an amendment to the credit agreement on March 8 under which the company can borrow up to $82.5 million, according to an 8-K filed with the Securities and Exchange Commission.

The initial credit agreement with Wells Fargo Bank NA as paying agent and WE 2014-1 LLC, an affiliate of Waterfall Asset Management LLC, as administrative agent, was for borrowings of up to $57.5 million.

Subsequently the company entered into an amendment to the credit agreement, increasing the borrowing amount another $25 million.

The incremental increase in the commitment was provided by WE 2022-1, LLC, as an additional lender.

The financial technology company is based in Boca Raton, Fla.

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