CrowdGather, Inc. (OTCPK:CRWG) announced that it has entered into security agreement for a private placement of secured promissory notes for gross proceeds of $2,000,000 with existing lender, Vinay Holdings, Ltd. on July 27, 2015. Vinay Holdings, Ltd. invested $372,000 in the transaction.The note will carry a fixed interest rate of 12% per annum and would mature on September 25, 2015, payable 60 days from the date of issuance.