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

On June 15, 2018, Accelerize Inc. (the “Company”) borrowed an aggregate of $500,000 (the “Borrowings”) from five lenders (the “Lenders”) and issued promissory notes for the repayment of the amounts borrowed. The Lenders are all accredited investors, one of the Lenders is an affiliate of the Company’s Chief Financial Officer, Anthony Mazzarella, two of the Lenders are related to the Company’s Chairman and Chief Executive Officer, Brian Ross, and two of the Lenders are employees of the Company. The promissory notes are unsecured, have a maturity date of May 30, 2021 and all principal is due upon maturity. Amounts borrowed accrue interest at 12% per annum and accrued interest is payable monthly. In the event the Company prepays the promissory notes prior to the end of two years, at prepayment the Lender will be paid the difference between accrued interest already paid and the amount of accrued interest payable for two years on the amount borrowed. The Company must repay the promissory notes within 30 days of retiring or refinancing all of its outstanding secured subordinated debt. The Company also issued to the Lenders six-year warrants to purchase an aggregate of 750,000 shares of the Company’s common stock exercisable for cash at an exercise price of $0.35 per share. The warrants were issued under the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended, as not involving a public offering. The descriptions of the promissory notes and the warrants are not complete and each is subject to and qualified in its entirety by reference to the form of promissory note or form of warrant, a copy of which is incorporated by reference as Exhibit 10.1 and 4.1, respectively, to this Current Report and is incorporated herein by reference. The promissory notes and warrants are the same form as those issued to lenders in the transactions described in the Company’s Current Report on Form 8-K filed on June 6, 2018.

On June 13, 2018, the Company entered into a eighth amendment (the “SaaS Amendment”) of the loan and security agreement dated as of May 5, 2016 with SaaS Capital Funding II, LLC, and into a second amending agreement (the “Beedie Amendment”) of the credit agreement dated as of January 25, 2018 with Beedie Investments Limited, to permit the Borrowings. The descriptions of the SaaS Amendment and Beedie Amendment are not complete and each is subject to and qualified in its entirety by reference to the SaaS Amendment and Beedie Amendment, a copy of which is filed as Exhibit 10.2 and 10.3, respectively, to this Current Report and is incorporated herein by reference.