Loan & DebtJun 23, 2026, 05:26 PM
Freight Technologies Secures $2.5M Loan at 10% Interest
AI Summary
Freight Technologies, Inc. and its subsidiaries entered into a Loan and Security Agreement with an institutional investor for a secured term loan of $2,500,000. The loan carries a 10.0% annual interest rate and matures on June 17, 2027. The company intends to use the net proceeds to fully repay its existing credit facility with Capital Foundry Funding, LLC.
Key Highlights
- Secured a term loan of $2,500,000 from an institutional investor.
- The loan bears interest at a rate of 10.0% per annum.
- Maturity date for the loan is June 17, 2027.
- A prepayment premium of 10.0% of the principal amount applies to repayments.
- Proceeds will be used to repay the existing credit facility with Capital Foundry Funding, LLC.
- The loan is secured by a perfected security interest in all assets of the Borrowers.
Price Impact