India, April 29 -- SUNation Energy, Inc. (SUNE), a provider of solar energy and backup power solutions for residential, commercial, and municipal clients, Tuesday announced that it has entered into a $1.0 million revolving line of credit agreement with MBB Energy, LLC.
MBB is a related party, as it is controlled by Scott Maskin. Details of the agreement were included in the company's Form 8-K filed with the SEC on April 17, 2025.
The credit facility, available for one year, allows SUNation to draw up to $1 million for working capital and corporate needs. Any borrowed funds will carry an annual interest rate of 8%.
SUNation's CFO, Jim Brennan, stated that the agreement reflects the company's commitment to improving its financial position,...