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

On November 5, 2020, the Registrant entered into a $4,000,000 term loan agreement, promissory note and related documents with Enterprise Bank and Trust. The term loan is for a period of five years, with a fixed interest rate of 4.25%, and requires monthly payments of principal and interest under a twenty-year amortization, with a balloon payment for the outstanding balance due and payable at the end of the term.

Borrowings under the term loan agreement are secured by all of the Registrant's tangible and intangible assets and by a mortgage on the real estate of the Registrant's headquarters facility. In addition, the term loan is secured by a personal guarantee(s) by three of the Registrant's significant shareholders ("Guarantors"). In consideration for the personal guarantee(s), the Registrant will pay a one-time aggregate payment of $200,000 to be shared among the Guarantors.

Proceeds from the term loan agreement were used to pay off the Registrant's $500,000 outstanding revolving line of credit balance with Enterprise Bank and Trust and to fund the loan guarantor payments. The remaining term loan proceeds are to fund our anticipated stock split transactions as described in the Form 8-K filed by the Registrant on October 19, 2020, as well as provide funds for general working capital purposes.

The foregoing description of the loan agreement and promissory note is qualified in its entirety by reference to the Agreement and Note filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K, which is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits





(d)   Exhibits







Exhibit No.  Description

10.1           Loan Agreement between Enterprise Bank and Trust and Reliv
             International, Inc., Reliv World Corporation, Reliv, Inc., SL
             Technology, Inc., and Chesterfield Partners LLC dated November 5,
             2020 (filed herewith).




10.2   Promissory Note between Enterprise Bank and Trust and Reliv International,

     Inc., Reliv World Corporation, Reliv, Inc., SL Technology, Inc., and
     Chesterfield Partners LLC dated November 5, 2020 (filed herewith).




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