Performant Financial entered into a new credit agreement with ECMC Group for a term loan facility in the initial amount of $44 million.

The facility allows for up to $15 million in additional term loans which  may be drawn until the second anniversary of the funding of the initial term loan.

The proceeds of the initial term loan were used to repay all outstanding amounts owed under Performant’s prior credit agreement with Madison Capital Funding as administrative agent and ING Capital as syndication agent.