JACKSONVILLE, FL – Global Axcess Corp (OTC:GAXC), which sells ATM solutions, says it has closed a $5 million loan agreement with Sun Trust Bank.

The company will repay the loan over 42 months, beginning April 30, 2009, with 41 equal monthly principal payments plus accrued interest. The interest rate of the loan is fixed at an interest rate of 6.99 percent.

The company paid $3.5 million of the loan to settle a lawsuit with Camofi Master LDC and $1.5 million to satisfy the principal balance under a loan agreement with Wachovia Bank.

The company says it still expects to report a profitable first quarter for 2009.

Global Axcess Corp was founded in 2001. Through its wholly owned subsidiary, Nationwide Money Services Inc., the company provides turnkey ATM management solutions that include cash, project and account management services.

NMS currently owns, operates or manages over 4,200 ATMs in its national network spanning 44 states.

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