Local.com Corporation (NASDAQ: LOCM), a leading local search site and network, today announced that the company has secured a $10 million revolving credit facility from Square 1 Bank.

The facility will primarily be used for expansion of the company via potential acquisitions, and to fund strategic growth initiatives.

"We’re pleased to develop our relationship with Square 1 Bank, a respected financial institution," said Brenda Agius, Local.com CFO. "This facility provides us with additional resources to support our growth objectives without diluting Local.com shareholders.”

“We were immediately drawn to the entrepreneurial spirit of Local.com executives, and are impressed by the company’s growth and prospects,” said Susan G. Casey, COO of Square 1 Bank. “We’re delighted to add Local.com to the roster of pioneering companies banking with Square 1.”

The facility from Square 1 Bank is secured by the company’s assets.

About Local.com^®

Local.com (NASDAQ: LOCM) owns and operates a leading local search site and the largest private label, local search network in the United States. The company uses patented technologies to provide over 20 million consumers each month with the most relevant search results for local businesses, products and services on Local.com and over 700 regional media sites. Businesses can target ready-to-purchase consumers using a variety of advertising products. To advertise, or for more information visit: www.local.com.

About Square 1 Bank

Square 1 Bank is a full service commercial bank providing financial services to venture capital firms and companies in all stages of growth and expansion. Square 1’s expertise, focus and strong capital base provide solid support for its clients’ needs. For more information please visit www.square1bank.com

Forward Looking Statements

All statements other than statements of historical fact included in this document regarding our anticipated financial position, business strategy and plans and objectives of our management for future operations, are forward-looking statements. When used in this report, words such as 'anticipate,' 'believe,' 'estimate,' 'plans,' 'expect,' 'intend,' ‘projects’ and similar expressions and phrases, as they relate to Local.com or our management, identify forward-looking statements. Any forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to our management.