FlexShopper secures forbearance extension through September 30

FlexShopper, Inc. (NASDAQ: FPAY) announced that its subsidiary Flex Revolution, LLC entered into a forbearance and fifth amendment to its credit agreement with BP Fundco, LLC on August 29, 2025.

The amendment extends the forbearance period until September 30, 2025, during which the lender will continue to refrain from taking action against the company for failing to deliver required financial statements within 120 days after its fiscal year ended December 31, 2024.

The agreement also extends the draw period under the credit facility until September 30, 2025, allowing the borrower to access funds subject to borrowing limits and collateral requirements. The borrower may seek to extend the draw period by an additional year.

The continued effectiveness of the forbearance period requires FlexShopper to enter into a backup servicing agreement with an approved backup servicer by September 30, 2025, unless waived by the lenders and administrative agent.

The forbearance relates to the company's failure to meet financial reporting requirements under its credit agreement. FlexShopper operates as a financial technology company providing lease-to-own payment solutions.

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