CrowdGather, Inc. (OTCPK:CRWG) announced that it has entered into a securities purchase agreement for a private placement of secured promissory notes for gross proceeds of $2,000,000 on July 16, 2015. The company issued a note in the aggregate principle amount of $50,000 to Peter Lee and a note in the aggregate principle amount of $96,000 to new lender, Vinay Holdings, Ltd. The notes will carry a fixed interest rate of 12% per annum and would mature on July 16, 2016.