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LOAN PAYABLE UNDER CREDIT AGREEMENT (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Covenant Requirements and FlexShopper's Actual Results

A summary of the covenant requirements, and FlexShopper’s actual results at September 30, 2024, follows:

			September 30, 2024
			Required Covenant						Actual Position
Equity Book Value not less than			$	16,452,247					$	29,808,572
Liquidity greater than			4,000,000						10,513,666
Cash greater than			3,000,000						7,330,542
Consolidated Total Debt to Equity Book Value ratio not to exceed			5.25						4.78

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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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