EDUCATIONAL DEVELOPMENT CORP 8-K

What Happened
Educational Development Corporation (EDUC) announced on March 11, 2026 (reporting a March 6, 2026 agreement) that it executed a Credit Agreement with Regent Bank establishing a revolving promissory note for up to $2,000,000. The facility matures on March 6, 2027 and bears interest at the greater of Prime Rate + 2.00% or 7.00%. The Revolving Loan is secured by the company’s accounts receivable, eligible inventory, fixed assets, and excess land. The filing also notes a Guarantor Agreement with Craig White, the company’s President and CEO. The full Loan Agreement is filed as Exhibit 10.01 to the 8-K.

Key Details

• Loan type: Revolving credit facility up to $2,000,000.
• Effective date / execution: March 6, 2026; maturity date: March 6, 2027.
• Interest: Higher of Prime Rate + 2.00% or a 7.00% floor.
• Security/guarantee: Collateralized by accounts receivable, eligible inventory, fixed assets, and excess land; Guarantor Agreement with CEO Craig White.

Why It Matters
This credit agreement gives EDUC near-term access to up to $2.0M of borrowing capacity, which can support working capital or other cash needs through March 2027. Because the loan is secured by company assets and includes a CEO guaranty, it affects the company’s secured indebtedness profile and could limit use of those assets for other financing. Investors should note the maturity timeline and interest terms when assessing short-term liquidity and financing cost — and review the filed Loan Agreement (Exhibit 10.01) for full terms.