Item 1.01. Entry into a Material Definitive Agreement.

On November 18, 2020, Alpine Funding LLC ("Alpine"), Sierra Income Corporation's (the "Company") wholly owned, special purpose financing subsidiary, entered into Amendment No. 1 to its existing Amended and Restated Loan Agreement (the "Amendment"), with SIC Advisors LLC, the financing providers party thereto, Citibank, N.A., as collateral agent and securities intermediary, Virtus Group, LP, as collateral administrator and JPMorgan Chase Bank, National Association, as administrative agent. The Amendment amends certain provisions of the Company's Amended and Restated Loan Agreement (the "Loan Agreement").

The Loan Agreement was amended to, among other things, (i) extend the reinvestment period from December 29, 2020 to May 18, 2021, (ii) increase the applicable margin for advances from 2.85% to 3.10% per annum, (iii) reduce the amount of maximum borrowings in an aggregate principal amount from $300,000,000 to $180,000,000 on a committed basis, (iv) require the Company to maintain a minimum a cash balance of $20,000,000 in Alpine, and (v) decrease the compliance condition for net advances from 55% to 52.5% of net asset value. The maturity date under the Loan Agreement did not change and therefore any amounts borrowed, as well as all accrued and unpaid interest thereunder, will be due and payable on March 29, 2022. In connection with the Amendment, the Company repaid $35,000,000 of the outstanding balance under the Loan Agreement on November 18, 2020, reducing the outstanding balance from $180,000,000 to $145,000,000.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment attached hereto as Exhibit 10.1.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.





(a) Not applicable.


(b) Not applicable.


(c) Not applicable.


(d) Exhibits.




Exhibit No.   Description
10.1            Amendment No. 1 to Amended and Restated Loan Agreement, dated as of
              November 18, 2020, among Alpine Funding LLC, SIC Advisors LLC, the
              Financing Providers thereto, Citibank, N.A., as collateral agent and
              securities intermediary, Virtus Group, LP, as collateral administrator
              and JPMorgan Chase Bank, National Association, as administrative
              agent.




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