Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On October 9, 2009, the Registrant's affiliate, Marlin Receivables Corp.
("MRC"), closed on $75,000,000 three-year committed loan facility with Wells
Fargo Foothill, LLC. The facility is secured by a lien on MRC's assets and is
supported by guaranties from the Registrant and Marlin Leasing Corporation.
Advances under the facility will be made pursuant to a borrowing base formula,
and the proceeds will be used to fund lease originations. The maturity date of
the facility is October 9, 2012. An event of default such as non-payment of
amounts when due under the loan agreement or a breach of covenants may
accelerate the maturity date of the facility. Attached as Exhibit 10.1 to this
report, and incorporated herein by reference, is the Loan and Security
Agreement, dated as of October 9, 2009, by and among Marlin Receivables Corp.,
Marlin Leasing Corporation, Marlin Business Services Corp. and Wells Fargo
Foothill, LLC. The Registrant issued a press release on October 13, 2009
announcing the closing of this facility, and a copy of that press release is
being furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
10.1 Loan and Security Agreement, dated as of October 9, 2009, by and among
Marlin Receivables Corp., Marlin Leasing Corporation, Marlin Business
Services Corp. and Wells Fargo Foothill, LLC.
99.1 Press Release issued by Marlin Business Services Corp. on October 13, 2009.
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