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): March 20, 2008
Marlin Business Services Corp.
(Exact name of registrant as specified in charter)
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Pennsylvania
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000-50448
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38-3686388 |
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(State or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.) |
300 Fellowship Road
Mt. Laurel, NJ 08054
(Address of principal executive offices)
(888) 479-9111
(Registrants telephone number, including area code)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
On March 20, 2008, Marlin Leasing Corporation (Marlin, a subsidiary of the Registrant) sent
written notice to Deutsche Bank AG, New York Branch (Deutsche) informing Deutsche that Marlin has
decided not to seek renewal of the $125 million Series 2000-A Warehouse Facility extended by
Deutsche to Marlin. The Series 2000-A facility is scheduled to expire pursuant to its terms on
March 24, 2008, and there are currently no borrowings outstanding under the facility. On March 12,
2008, the Registrant announced the opening of Marlin Business Bank (the Bank). The Bank provides
the Registrant with diversified funding options at more favorable terms than the Series 2000-A
Warehouse Facility. The Bank will provide up to $69 million in origination funding capacity in its
first year of operations, up to $90 million in its second year, and up to $105 million in its third
year and beyond. Management believes that the new funding capacity provided by the Bank renders
the Series 2000-A Warehouse Facility unnecessary, resulting in Marlins decision not to
seek renewal of that facility.
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