FatPipe entered into a $4.5 million secured term loan and a $1.5 million secured revolving line of credit with KeyBank National Association. The company used approximately $4.47 million from the term loan to fully repay its outstanding Small Business Administration loan with Fortis Bank, which carried interest at Prime Rate plus 1.00%. Under the new agreements, borrowings bear interest at Adjusted Daily SOFR plus 3.00%, representing an expected 110 basis point reduction in annual borrowing costs. The term loan matures on October 1, 2029, with monthly principal payments of $75,000 beginning November 1, 2026, while the revolving facility matures on September 30, 2027. FatPipe provides enterprise networking and cybersecurity solutions.
