# EDGAR Filing Document

**Accession Number:** 0001397047
**File Stem:** 0001213900-25-079016
**Filing Date:** 2025-8
**Character Count:** 22058
**Document Hash:** 4807a04f4439ffecbe9e4cac7c9d9143
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-079016.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001213900-25-079016

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250818

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FlexShopper, Inc.
- **CENTRAL INDEX KEY:** 0001397047
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 205456087
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37945
- **FILM NUMBER:** 251237557

**BUSINESS ADDRESS:**
- **STREET 1:** 901 YAMATO ROAD
- **STREET 2:** SUITE 260
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33431
- **BUSINESS PHONE:** (561) 367-1504

**MAIL ADDRESS:**
- **STREET 1:** 901 YAMATO ROAD
- **STREET 2:** SUITE 260
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33431

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Anchor Funding Services, Inc.
- **DATE OF NAME CHANGE:** 20070419

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): <u>August 18, 2025</u>

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| |
|:---|
| &nbsp;&nbsp; **FLEXSHOPPER, INC.** |
| &nbsp;&nbsp;(Exact name of registrant as specified in its charter) |

---

<u>Delaware</u> <u>001-37945</u> <u>20-5456087</u> <br> (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

<u>901 Yamato Road, Suite 260 Boca Raton, Florida</u> <u>33431</u> <br> (Address of Principal Executive Offices) (Zip Code)

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| |
|:---|
| &nbsp;&nbsp;Registrant's telephone number, including area code: <u>(855) 353-9289</u> |
| &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;(Former name or former address, if changed since last report.) |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.0001 per share | FPAY | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**CURRENT REPORT ON FORM 8-K**

**FlexShopper, Inc. (the "Company")**

**August 18, 2025**

**Item 1.01. Entry into a Material Definitive Agreement.**

As previously disclosed, on March 27, 2024, the Company, through FlexShopper 2, LLC, its wholly-owned subsidiary (the "Borrower"), entered into a Credit Agreement with Powerscourt Investments 50, LP, an affiliate of Waterfall Asset Management, LLC, as administrative agent (in such capacity, the "Administrative Agent"), Computershare Trust Company, National Association, as paying agent, and various lenders from time to time party thereto, as subsequently amended by Amendment No. 1 to Credit Agreement, dated as of April 9, 2025, and Amendment No. 2 to Credit Agreement, dated as of April 30, 2025, between the Borrower and the Administrative Agent (as amended, supplemented and otherwise modified, the "Credit Agreement"). Additionally, on March 27, 2024, the Borrower entered into a Fee Letter with the Administrative Agent (as amended, supplemented and otherwise modified, the "Fee Letter").

On August 18, 2025, the Borrower and the Administrative Agent amended the Credit Agreement and the Fee Letter to permit the Administrative Agent to provide interim financing to the Borrower to fund the Company's immediate working capital requirements.

The foregoing summary is qualified in its entirety by reference to the full text of Amendment No. 3 to Credit Agreement and Amendment No. 1 to Fee Letter, attached as Exhibit 10.1, which is incorporated herein in its entirety.

**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Exhibits</u>. The exhibits listed in the following Exhibit Index are filed as part of this current report.

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| | |
|:---|:---|
| Exhibit No. | Description |
| 10.1 | [Amendment No. 3 to Credit Agreement and Amendment No. 1 to Fee Letter, dated as of August 18, 2025, between FlexShopper 2, LLC and Powerscourt Investments 50, LP, as administrative agent and as the lender.](ea025407601ex10-1_flex.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  | **FLEXSHOPPER, INC.** | **FLEXSHOPPER, INC.** | **FLEXSHOPPER, INC.** |
| Date: August 20, 2025 | By: | /s/ John Davis | /s/ John Davis |
|  |  | Name: | John Davis |
|  |  | Title: | President and Chief Operating Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**AMENDMENT NO. 3 TO CREDIT AGREEMENT AND AMENDMENT NO. 1 TO FEE LETTER**

This **AMENDMENT NO. 3 TO CREDIT AGREEMENT AND AMENDMENT NO. 1 TO FEE LETTER** (this "<u>Amendment</u>") is made and entered into as of August 18, 2025 between FLEXSHOPPER 2, LLC (the "<u>Company</u>"), Powerscourt Investments 50, LP, as administrative agent (in such capacity, the "<u>Administrative Agent</u>") and as the lender (the "<u>Lender</u>").

**<u>BACKGROUND</u>**

**WHEREAS,** the Company, the Administrative Agent, Computershare Trust Company, National Association, as paying agent (the "<u>Paying Agent</u>") and various lenders from time to time party thereto are party to a certain Credit Agreement, dated March 27, 2024, as amended by that certain Amendment No. 1 to Credit Agreement, dated as of April 9, 2025 and that certain Amendment No. 2 to Credit Agreement, dated as of April 30, 2025, between the Company and the Administrative Agent (as amended, supplemented and otherwise modified as of the date hereof, the "<u>Credit Agreement</u>");

**WHEREAS,** the Company and the Administrative Agent are party to a certain Fee Letter, dated March 27, 2024 (as amended, supplemented and otherwise modified as of the date hereof, the "<u>Fee Letter</u>");

**WHEREAS**, the parties to the Credit Agreement and the Fee Letter desire to amend the Credit Agreement and the Fee Letter pursuant to <u>Section 9.4(a)</u> and <u>Section 9.4(b)(vii)</u> of the Credit Agreement;

**NOW, THEREFORE**, in consideration of the premises and the mutual agreements herein contained, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Defined Terms</u>. Capitalized definitional terms used in this Amendment and not otherwise defined
herein shall have the meanings assigned to them in the Credit Agreement or the Fee Letter, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Amendment to the Credit Agreement</u>. Effective as of the date first written above, upon the satisfaction
of the conditions set forth in <u>Section 4</u> below, the Credit Agreement is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The new defined term "Permitted Rescue Financing" is hereby inserted in the correct alphabetical
order in <u>Section 1.1</u> of the Credit Agreement:

"Permitted Rescue Financing" means any secured or unsecured debt financing incurred by Seller, Parent or any Subsidiary thereof that is provided by the Administrative Agent, the Lender or any Related Fund or other Lender Affiliate thereof or any other lender that is approved in advance in writing by the Administrative Agent in its sole discretion.

FlexShopper-Waterfall – Amendment No. 3 to <br> Credit Agreement and Amendment No. 1 to Fee Letter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Part (vii) of the definition of "Permitted Liens" in <u>Section 1.1</u> of the Credit Agreement
is hereby deleted in its entirety and replaced with the following:

Liens securing Indebtedness permitted under Sections 6.1(b)(iv), 6.1(c) and 6.1(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Section 5.1(a)</u> of the Credit Agreement is hereby amended by adding a new <u>Section 5.1(a)(v)</u> which reads as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a report describing in reasonable detail all outstanding Permitted Rescue Financing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Section 6.1</u> of the Credit Agreement is hereby amended by adding a new <u>Section 6.1(f)</u> which
reads as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Permitted Rescue Financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Section 6.4</u> of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

**No Further Negative Pledges**. Except pursuant to the Credit Documents, none of Parent, Seller, FlexLending, Intermediate Seller, Company, Flex Revolution, LLC, FlexRetail, LLC, Flex TX, LLC, Flex TX Funding, LLC or Flex TX CAB, LLC shall enter into any Contractual Obligation prohibiting the creation or assumption of any Lien upon any of its properties or assets, whether now owned or hereafter acquired, other than the Second Warehouse Facility, Permitted Parent Indebtedness, a Permitted Channel Partner Program or Permitted Rescue Financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Section 7.1(b)(ii)(b)</u> of the Credit Agreement is hereby deleted in its entirety and replaced with
the following:

any instrument, document or agreement evidencing Permitted Seller Subordinated Indebtedness, Permitted Parent Indebtedness or Permitted Rescue Financing.

2 FlexShopper-Waterfall – Amendment No. 3 to <br> Credit Agreement and Amendment No. 1 to Fee Letter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Section 9.16</u> of the Credit Agreement is hereby amended by deleting part (d) in the last sentence
thereto its entirety and replacing it with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosures regarding pricing to lenders of Permitted Seller Subordinated Indebtedness, Permitted Parent Indebtedness and Permitted Rescue Financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Appendix C</u> of the Credit Agreement is amended by adding a new part mm) to the definition of "Eligibility
Criteria" which reads as follows:

mm) Seller (or, with respect to Retail Loans, FlexLending) has remitted the related purchase price or other amount due in full to the related retailer or Bank Partner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Schedule 6</u> of the Credit Agreement is hereby deleted in its entirety and replaced with <u>Schedule 6</u> attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Amendments to Fee Letter</u>. Effective as of the date first written above, upon the satisfaction of
the conditions set forth in <u>Section 4</u> below, the Fee Letter is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Paragraph (a) of the definition of "Applicable Advance Rate" in <u>Paragraph 3</u> of the
Fee Letter is hereby deleted in its entirety and replaced with the following:

"(a) as of any date of determination on which an Advance Event Step-Down Event is not in effect, (u) for Performing Leases and Performing Retail Loans, 96% or such greater percentage as Lender permits in its sole discretion, (v) for Early Eligible Leases and Early Retail Loans, 96% or such greater percentage as Lender permits in its sole discretion, (w) for 1F1-Eligible Leases and 1F1-Eligible Retail Laon, 96% or such greater percentage as Lender permits in its sole discretion, (x) for 2F2-Eligible Leases and 2F2-Eligible Retail Loans, 96% or such greater percentage as Lender permits in its sole discretion, (y) for Late-Eligible Leases and Late-Eligible Retail Loans, 96% or such greater percentage as Lender permits in its sole discretion and (z) for all other Pledged Leases and Pledged Retail Loans, 0%; provided, that, the Applicable Advance Rate for Performing, Performing Retail Loans, Early Eligible Leases, Early Retail Loans, 1F1-Eligible Leases, 1F1-Eligible Retail Loans, 2F2-Eligible Leases, 2F2-Eligible Retail Loans, Late-Eligible Leases and Late-Eligible Retail Loans transferred to the Borrower pursuant to the Asset Sale Agreement on August 18, 2025 (and any subsequent Transfer Date and Credit Date consented to by the Administrative Agent in its sole discretion prior to the execution of any Permitted Rescue Financing) shall be 145%; and"

3 FlexShopper-Waterfall – Amendment No. 3 to <br> Credit Agreement and Amendment No. 1 to Fee Letter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Effectiveness</u>. This Amendment shall become effective as of the date first written above upon delivery
to the Administrative Agent of counterparts of this Amendment duly executed by each of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each of the parties hereto acknowledges and agrees that this Amendment does not reduce the rights, decrease
the fees or other amounts payable to the Paying Agent or increase the duties or obligations of the Paying Agent under the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Binding Effect; Ratification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each of the Credit Agreement and the Fee Letter, as amended hereby, remains in full force and effect.
Any reference to either of the Credit Agreement or the Fee Letter from and after the date hereof shall be deemed to refer to the Credit
Agreement or the Fee Letter, respectively, as amended hereby, unless otherwise expressly stated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as expressly amended hereby, each of the Credit Agreement and the Fee Letter shall remain in full
force and effect and each is hereby ratified and confirmed by the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company represents and warrants to the Lender that, except as detailed in the Limited Forbearance
and Reaffirmation, dated as of August 16, 2025, by and among the Company, FlexShopper, LLC and the Administrative Agent, (a) each and
every of its representations and warranties contained in <u>Section 4</u> of the Credit Agreement, as amended hereby, are true and correct
as of the date hereof and (b) no Event of Default or Default has occurred and is continuing and, immediately after the execution and delivery
of this Amendment, no Event of Default or Default shall have occurred or be continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary herein or in the Credit Documents, by signing this Amendment,
neither the Lender nor the Administrative Agent is waiving or consenting, nor has either of them agreed to waive or consent to in the
future, the breach of (or any rights and remedies related to the breach of) any provisions of any of the Credit Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company agrees to promptly reimburse the Administrative Agent for all of the reasonable out-of-pocket
expenses, including, without limitation, reasonable legal fees, it has heretofore or hereafter incurred or incurs in connection with the
preparation, negotiation and execution of this Amendment and all other instruments, documents and agreements executed and delivered in
connection with this Amendment.

4 FlexShopper-Waterfall – Amendment No. 3 to <br> Credit Agreement and Amendment No. 1 to Fee Letter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Requisite Lenders</u>. The Lender hereby represents and warrants that it constitutes the "Requisite
Lenders" (as defined in the Credit Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL
BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW PRINCIPLES THEREOF
OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The captions and headings herein are included herein for convenience of reference only and shall not constitute
a part hereof for any other purpose or be given any substantive effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Amendment shall be valid, binding, and enforceable against a party when executed and delivered by
an authorized individual on behalf of the party by means of (i) an original manual signature, (ii) a faxed, scanned, or photocopied manual
signature, or (iii) any other electronic signature permitted by the Signature Laws, in each case to the extent applicable. Each faxed,
scanned, or photocopied manual signature, or other electronic signature, shall for all purposes have the same validity, legal effect,
and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall
have no liability with respect to, any faxed, scanned, or photocopied manual signature, or other electronic signature, of any other party
(whether such signature is with respect to this Amendment or any notice, officer's certificate or other ancillary document delivered
pursuant to or in connection with this Amendment) and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity
thereof. This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original, but such counterparts
shall, together, constitute one and the same instrument. For the avoidance of doubt, original manual signatures shall be used for execution
or indorsement of writings when required under the UCC or other Signature Law due to the character or intended character of the writings.

**[SIGNATURES FOLLOW]**

5 FlexShopper-Waterfall – Amendment No. 3 to <br> Credit Agreement and Amendment No. 1 to Fee Letter

**IN WITNESS WHEREOF**, the parties hereto have caused this Amendment to be duly executed by their respective officers as of the day and year first above written.

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| | |
|:---|:---|
| **ADMINISTRATIVE AGENT and LENDER:** | **ADMINISTRATIVE AGENT and LENDER:** |
| **POWERSCOURT INVESTMENTS 50, LP** | **POWERSCOURT INVESTMENTS 50, LP** |
| By: | Powerscourt Investments GP, LLC,<br> as General Partner |
| By: | Maples Fiduciary Services (Delaware) Inc.,<br> as Managing Member |

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| | |
|:---|:---|
| By: | <u>/s/ Scott Huff</u> |
| Name: | Scott Huff |
| Title: | Authorized Signatory |

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Signature Page Limited Forbearance and Reaffirmation

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| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **FLEXSHOPPER 2, LLC** | **FLEXSHOPPER 2, LLC** |
| By: | /s/ John Davis |
| Name: | John Davis |
| Title: | President & COO |

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Signature Page Limited Forbearance and Reaffirmation