XML 42 R32.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Loan Payable Under Credit Agreement (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2024, follows:

		June 30, 2024
		Required Covenant				Actual Position
Equity Book Value not less than		$	16,452,246			$	27,481,239
Liquidity greater than			3,500,000				10,346,383
Cash greater than			2,500,000				4,892,912
Consolidated Total Debt to Equity Book Value ratio not to exceed			5.25				4.72

X

- References

No definition available.

+ Details

Name:	us-gaap_LineOfCreditFacilityAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration