Flex Revolution becomes borrower under $20 million credit facility

By Wendy Van Sickle

Columbus, Ohio, June 13 – FlexShopper, Inc. wholly owned subsidiary Flex Revolution, LLC entered into a joinder to a credit agreement with Revolution Financial, Inc. as the existing borrower and BP Fundco, LLC as administrative agent on June 7, according to an 8-K filing with the Securities and Exchange Commission.

The up to $20 million credit facility is for the origination of consumer loans.

The annual interest rate is 13.42%. There is currently $7.4 million drawn on the credit facility. The outstanding principal balance will be due on June 7, 2026.

The existing borrower and some of its subsidiaries entered on Oct. 11, 2022 into an asset purchase agreement under which Revolution Financial, Inc. agreed to sell all of its assets to Flex Revolution.

Based in Boca Raton, Fla., FelxShopper is an online lease-to-own marketplace.

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