Boston - Paid Inc., a provider of websites and fan club services for celebrities and organizations, announced on Tuesday that it has signed a new $2.5 million revolving credit line with Lewis Asset Management.

Paid Inc. said its celebrity services business will use the credit facility to make advance payments to musical artists and celebrities in order to secure contracts for VIP ticketing, retail licensing, tour and general merchandising, and other services by the company.

The $2.5 million revolving line of credit is not convertible into Paid, Inc. equity, the company said.

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http://www.paid.com