Form 8K Current Report
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 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): August 21, 2006
FRANKLIN
CREDIT MANAGEMENT CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
|
0-17771
|
75-2243266
|
(State
or other jurisdiction of
incorporation
or organization)
|
(Commission
file number)
|
(I.R.S.
employer
identification
no.)
|
101
Hudson Street
New
Jersey, New Jersey
(Address
of principal executive offices)
|
|
07302
(Zip
code)
|
Registrant’s
telephone number, including area code: (201) 604-4402
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 (see
General
Instruction A.2.
below):
Check
the
appropriate box below in the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see
General
Instruction A.2. below):
r
Written
communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
r
Soliciting
material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240. 14a-12)
r
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
r
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
ITEM
8.01 Other Events.
On
August
21, 2006, the Company issued a press release announcing that on August 11,
2006
it entered into a new $40 million Flow Warehousing Credit and Security Agreement
with Sky Bank. The new loan facility with Sky Bank will be used to accumulate
loans acquired by the Company through its Flow Acquisition Group prior to
consolidating such loans into term debt. The Flow Warehousing Credit and
Security Agreement does not replace any of the company’s existing bank
facilities. A copy of the press release is attached hereto as Exhibit 99.1,
which is incorporated in this Item 8.01 by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
No.
|
Description
|
99.1
|
Press
Release, dated August 21, 2006, entitled “Franklin Credit Announces New
$40 Million Warehouse Credit Facility.”
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
FRANKLIN
CREDIT MANAGEMENT CORPORATION
By:
_/s/
Paul D.
Colasono
Name:
Paul
D.
Colasono
Title:
Chief
Financial Officer and
Executive Vice President
Date: August
21, 2006