Reliv International announced it has entered into a new banking relationship with Enterprise Bank, based in St. Louis.

Reliv International and three of its wholly-owned subsidiaries, Reliv, Reliv World Corporation and SL Technology entered into a term loan with Enterprise Bank & Trust in the principal amount of $3.25 million.

The proceeds of the term loan were used by the company to pay off the outstanding balance of principal and accrued interest under its prior term loan and revolving credit facility with BMO Harris Bank.

The term of the loan is for a period of three years with interest accruing on the outstanding principal balance at a floating interest rate based on the 30-day LIBOR plus 2.25%. The current interest rate is 2.451%. Monthly principal payments of $27,080 are based on a ten-year amortization. The aggregate outstanding balance of principal and interest is due and payable on September 30, 2018.

The company and its subsidiaries also entered into a revolving credit facility for $3.5 million with the bank. The credit facility accrues interest on the outstanding principal balance at a floating interest rate based on 30-day LIBOR plus 2.25% and has a maturity date of September 30, 2016. As of this date, there are no outstanding borrowings on the revolving credit facility.

“We are pleased to begin a banking relationship with Enterprise and look forward to a long partnership with them,” said Robert L. Montgomery, chairman and chief executive officer. “This credit facility, coupled with our current cash reserves, gives us the capital needed for our strategic initiatives to grow Reliv in the coming years,” he added. As of June 30, 2015, Reliv had cash and cash equivalents of $4.50 million.

The term loan and revolving credit facility are secured by all tangible and intangible assets of the company, a whole life insurance policy on the life of the company’s chief executive officer and also by a mortgage on the Company’s building and real estate located in Chesterfield, Missouri.

Chesterfield, MO-based Reliv International produces nutritional supplements that promote optimal nutrition along with premium skincare products.