FlexShopper Extends Draw Period for Credit Facility

FlexShopper ( (FPAY) ) has issued an update.

On June 7, 2023, Flex Revolution LLC, a subsidiary of FlexShopper, along with Revolution Financial, Inc., entered into a Joinder Agreement to a Credit Agreement known as the Basepoint Credit Agreement. This agreement provides a $20 million credit facility for consumer loan origination, backed by eligible consumer receivables. The annual interest rate is set at 13.42%, with the principal balance due by June 7, 2026. Additionally, on June 7, 2025, the Draw Period for accessing funds was extended to the earliest of July 31, 2025, or the Draw Period Termination Date, with an option to extend for another year. This development could impact FlexShopper’s financial operations by enhancing its consumer lending capabilities.

The most recent analyst rating on (FPAY) stock is a Buy with a $2.00 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.

Spark’s Take on FPAY Stock

According to Spark, TipRanks’ AI Analyst, FPAY is a Neutral.

FlexShopper’s overall stock score is primarily affected by its financial performance challenges, including high leverage and negative cash flow. Despite positive corporate events increasing financial capacity, the stock’s valuation remains a concern with a negative P/E ratio. Technical analysis offers mixed signals, with short-term potential but longer-term weaknesses.

To see Spark’s full report on FPAY stock, click here.

More about FlexShopper

Average Trading Volume: 50,246

Technical Sentiment Signal: Sell

Current Market Cap: $28.65M

For an in-depth examination of FPAY stock, go to TipRanks’ Overview page.