Trakopolis IoT Corp. announced that it has entered into an agreement with ESW Holdings Inc. with respect to a $3.0 million secured credit facility. The credit facility consists of a 12-month term loan bearing interest at an annual rate of prime (US) plus 4.5%. In accordance with the terms of the Term Loan, the Company is not required to make any interest or principal payments until the maturity date of the Term Loan. The company has used the proceeds to pay out the company's existing indebtedness to Silicon Valley Bank and to fund certain Lender expenses in accordance with the terms of the Term Loan, with the remaining funds to be made available for general working capital purposes.