According to an 8-K filing, Reliv International, a manufacturer of nutritional supplements, has defaulted on a credit agreement with BMO Harris that includes a $3.5 million term loan and a $5 million revolving credit facility.

According to the filing, BMO Harris issued a notice of default with Reliv informing the company that non-compliance of the fixed charge coverage ratio covenant constituted an event of default, however the bank did not impose the default interest rate available under the credit agreement nor did the bank accelerate or demand payment of the outstanding debt.

As of the date of the filing (9/2/15), the outstanding balance of principal and accrued interest on the term loan was $2.74 million and the outstanding principal on the revolver was $500,000.

According to the filing, Reliv has requested a waiver to their non-compliance is currently in negotiations with the bank.

Acess the entireReliv International 8-K filing here.