NTN Buzztime, a provider of interactive entertainment and innovative dining technology, amended its credit agreement with East West Bank to increase the company’s access to short-term capital.

The original East West Bank credit agreement allowed the company to borrow up to the lesser of $7.5 million under a revolving line and an amount based on the company’s borrowing base, plus a $2.5 million accordion feature, which provided the company up to $10 million in total borrowing capacity.

The amendment allows the company to borrow up to an additional $2.0 million sublimit that is not subject to any borrowing base formula. The amount of the revolving line and the accordion feature are unchanged. The amendment also modifies the borrowing base formula, which as a result reduces the company’s current borrowing availability under the credit facility, so that the net impact to the company’s short-term borrowing capacity under the credit facility increased by approximately $1.5 million. The proceeds will be used to fund strategic growth initiatives and general working capital.

“We are excited about our progress in stabilizing the business and turning Adjusted EBITDA positive,” said Allen Wolff, NTN Buzztime CFO. “We are taking steps to improve our capital structure and expand our liquidity as we prepare for growth. Amending our agreement with East West Bank increases our access to short-term capital, and we believe this demonstrates our financial partner has confidence in our ability to execute our plan.”