Alimera Sciences, Inc. announced that it has entered into a $40 million term loan agreement with Solar Capital Ltd. Alimera will use the proceeds of this funding to pay off an existing $35 million term loan along with related fees and expenses, and to provide additional working capital for general corporate purposes. Interest on outstanding borrowing under the term loan is payable at one-month LIBOR plus 7.65% per annum. The term loan’s current interest rate is 9.2%. The term loan, which matures on July 1, 2022, provides for interest only payments for the first 30 months. If Alimera meets certain revenue thresholds, it can extend the interest only period to 36 months followed by 18 months of principal and interest.