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Loan Payable Under Credit Agreement (Tables)

3 Months Ended

Mar. 31, 2024

Loan Payable Under Credit Agreement [Abstract]

Schedule of Covenant Requirements and FlexShopper's Actual Results

A summary of the covenant requirements, and FlexShopper’s actual results at March 31, 2024, follows:

		March 31, 2024
		Required Covenant				Actual Position
Equity Book Value not less than		$	16,452,246			$	29,227,621
Liquidity greater than			1,500,000				5,593,750
Cash greater than			500,000				5,593,750
Consolidated Total Debt to Equity Book Value ratio not to exceed			5.25				4.29

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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No definition available.

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