Frankly Inc., a leading technology and monetization platform for media companies, entered into a loan and security agreement with Silicon Valley Bank on December 28, 2016.

The Credit Agreement, which replaces Frankly's prior credit facility with Bridge Bank, provides Frankly with access to an accounts receivable based revolving credit line with an initial limit of US$1.5 million, which can be increased up to US$3 million. The Credit Agreement is secured by Frankly's assets and has a one-year initial term, and carries interest at 2.25% above the prime rate. The proceeds of the Credit Agreement will be used to supplement Frankly's working capital needs.  

Frankly builds an integrated software platform for media companies to create, distribute, analyze and monetize their content across all of their digital properties on web, mobile and TV.  Its customers include NBC, ABC, CBS and FOX affiliates, as well as other leading media organizations. Collectively, Frankly reaches nearly 60 million monthly users in the United States. The company is headquartered in San Francisco with major offices in New York.