Document:

Exhibit 10.3

LASALLE BUSINESS CREDIT, LLC

                                                           MEMBER ABN AMRO GROUP

135 South LaSalle Street
Suite 425
Chicago, Illinois 60603
(312) 004-8490

The Singing Machine Company,
8601 Lyons Road
Suite A-7
Coconut Greek, Florida 33073

        Re: Eighth AMENDMENT

Gentlemen:

         THE SINGING MACHINE COMPANY, Inc., a Delaware corporation ("BORROWER")
AND LASALLE BUSINESS CREDIT, LLC, A DELAWARE LIMITED LIABILITY COMPANY
("LENDER") have entered into that certain Loan and Security Agreement dated
April 26, 2001 (the "Security Agreement"). From time to time thereafter,
Borrower and Bank may have executed various amendments (each an "AMENDMENT" and
collectively the "Amendments") to the Security Agreement (the Security Agreement
and the Amendments hereinafter are referred to, collectively, as the
"AGREEMENT"). Borrower and Lender now desire to further amend the Agreement as
provided herein, subject to the terms and conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of the foregoing recitals, the mutual
covenants and agreements set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

         1. The Agreement hereby is amended as follows:

         (a) Paragraph (1) of Exhibit A of the Agreement is deleted in its
entirety and the following is substituted in its place:

                  (1)      LOANS: Subject to the terms and conditions of the
                           Agreement and the Other Agreements, Lender shall,
                           absent the occurrence of an Event of Default, advance
                           an amount up to the sum of the following sublimits
                           (the "LOAN LIMIT"):

                           (a)      Up to seventy percent (7Q%), or such lesser
                                    percentage as determined by Lender in its
                                    sole discretion exercised in good faith, of
                                    the face amount (less maximum discounts,
                                    credits and allowances which may be taken by
                                    or granted to Account Debtors in

<PAGE>

[GRAPHIC OMITTED][GRAPHIC OMITTED]

<PAGE>

LASALLE BUSINESS CREDIT, LLC                          MEMBER ABN AMRO GROUP

The SINGING MACHINE COMPANY, INC.
MARCH 18, 2003
PAGE 2

                                    connection therewith in the ordinary course
                                    of Borrower's business) of Borrower's
                                    Eligible Accounts; plus

                           (b)      Subject to subparagraph (3)(a) of this
                                    Exhibit A, the lesser of: up to ten percent
                                    (10%), or such lesser percentage as
                                    determined by Lender in its sole discretion
                                    exercised in good faith, of the lower of the
                                    cost or market value of Borrower's Eligible
                                    Inventory or Two Million and No/100 Dollars
                                    ($2,000,000.00) during the period of March
                                    15, 2003 through March 31, 2003; plus

                           (C)      "INTENTIONALLY OMITTED"; minus

                           (d)      Such reserves as Lender elects, in its sole
                                    discretion exercised in good faith, to
                                    establish from tine to time, including
                                    without limitation, (i) a seasonal dilution
                                    reserve in the amount of One Million and
                                    No/100 Dollars ($1,000,000.00) against
                                    Borrower's "Eligible Accounts" during the
                                    period of March 15, 2003 until March 31,
                                    2003, and (ii) to the extent that the ratio
                                    of Free on Board sales to domestic sales
                                    increases, Lender in its sole discretion may
                                    create a reserve to account for the
                                    additional dilution;

                                    provided, that the Loan Limit shall in no
                                    event exceed Ten Million and No/100 Dollars
                                    ($10,000,000.00) during the period of March
                                    15, 2003 through March 31, 2003, (the
                                    "Maximum Loan Limit"), except as such amount
                                    may be increased or, following the
                                    occurrence of an event of default, decreased
                                    by Lender, in its sole discretion, exercised
                                    in good faith, from time to time.

         (b) Paragraph (5)(c) of Exhibit A of the Agreement is deleted in its
entirety and the following is substituted in its place:

                           (c)      (Borrower shall pay to fee of Five Thousand

<PAGE>

LASALLE BUSINESS CREDIT, LLC                          MEMBER ABN AMRO GROUP

The SINGING MACHINE COMPANY, INC.
MARCH 18, 2003
PAGE 3

                                    and no/100 dollars ($6,000.00), which fee
                                    shall be deemed fully earned on the date of
                                    this amendment and payable on March 31,
                                    2003.

         2. This amendment shall not become effective until fully executed by
all parties hereto.

                   3. Except as expressly amended hereby and by any other
 supplemental documents or instruments executed by either party hereto in order
 to effectuate the transactions contemplated hereby, the agreement and Exhibit A
 thereto hereby are ratified and confirmed by the parties hereto and remain in
 full force and effect in accordance with the terms thereof.

                                           LASALLE BUSINESS CREDIT, LLC, A
                                           DELAWARE LIMITED LIABILITY COMPANY

                                           By   /s/ Casey Orlowski
                                              -------------------------------
                                           Title   Vice President
                                                -----------------------------

ACKNOWLEDGED AND AGREED TO THIS
18TH DAY OF MARCH, 2003.

THE SINGING MACHINE COMPANY, INC.

By /s/  John F. Klecha
   -------------------------
        John F. Klecha

Title  President/SecretaryExhibit 10.4

LaSalle Business Credit, LLC                               Member ABN AMRO Group

135 South LaSalle Street
Suite 425
Chicago, Illinois  60603
(312) 904-8490

March 25, 2003

The Singing Machine Company, Inc.
6601 Lyons Road
Suite A-7
Coconut Creek, Florida  33073

           Re:  Ninth Amendment

Gentlemen:

         The Singing Machine Company, Inc., a Delaware corporation ("Borrower")
and LaSalle Business Credit, LLC, a Delware limited liability company
("Lender")have entered into that certain Loan and Security Agreement dated April
26, 2001 (the "Security Agreement"). From time to time thereafter, Borrower and
Bank may have executed various amendments (each an "Amendment" and collectively
the "Amendments") to the Security Agreement (the Security Agreement and the
Amendments hereinafter are referred to, collectively, as the "Agreement").
Borrower and Lender now desire to further amend the Agreement as provided
herein, subject to the terms and conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of the foregoing recitals, the mutual
covenants and agreements set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

         1. The Agreement hereby is amended as follows:

         (a) Exhibit B to the Agreement is amended and restated as the Third
Amended and Restated Exhibit B as attached hereto and made a part hereof.

         2. This Amendment shall not become effective until fully executed by
all parties hereto.

         3. Except as expressly amended hereby and by any other supplemental
documents or instruments executed by either party hereto in order to effectuate
the transactions contemplated hereby, the Agreement and Exhibit A thereto hereby
are ratified and confirmed by the parties hereto and remain in full force and
effect in accordance with the terms thereof.

<PAGE>

LaSalle Business Credit, LLC                               Member ABN AMRO Group

The Singing Machine Company, Inc.
March 25, 2003
Page 2

                                             LASALLE BUSINESS CREDIT, LLC, A
                                             DELAWARE LIMITED LIABILITY COMAPANY

                                             By    /s/ Thomas Hirsh
                                                --------------------------------
                                                Title: 1st VP/Counsel

ACKNOWLEDGED AND AGREED TO
this 25th day of March, 2003.

The Singing Machine Company, Inc.

By /s/ John F. Klecha
-----------------------
John F. Klecha

Title President/Secretary

THIRD AMENDED AND RESTATED
EXHIBIT B - BUSINESS AND COLLATERAL LOCATIONS
---------------------------------------------

         Attached to and made a part of that certain Loan and Security Agreement
as it may be amended in accordance with its terms from time to time, including
all exhibits attached thereto (the "Agreement") dated April 26, 2001 between THE
SINGING MACHNE COMPANY, INC. ("Borrower") and LASALLE BUSINESS CREDIT LLC, A
DELAWARE LIMITED LIABILITY COMPANY, SUCCESSOR BY MERGER TO LASALLE BUSINESS
CREDIT, INC. ("Lender").

A. Borrower's Business Locations (please indicate which location is the
principle place of business and at which locations originals and all copies of
Borrower's books, records and accounts are kept).

1.  6601 Lyons Road
    Suite A-7                  (including Suite A-6 and Suite A-8)
    Coconut Creek, Florida  33073
    (leased location/principal place of business)

B. Other locations of Collateral (including, without limiitation, warehouse
locations, processing locations, consignment locations) and all post office
boxes of Borrower. Please indicate the relationship of such location to Borrower
(i.e. public warehouse, processor, etc.).

1.  Mirror Tower                              2.  c/o El Mar Plastics
    61 Mody Road                                  840 Walnut Street
    Tsimshatsui East                              Carson City, California  90746
    Units 2 and 3 of the Lower One Floor          (public warehoue location)
    Kowloon, Hong Kong
    (bailed equipment location of subsidiary)

3.  c/o Hanmi Express Corp.                   4.  c/o Hanmi Express Corp.
    623 East Walnut Street                        969 East Sandhill
    Carson City, California  90746                Carson City, California  90746
    (public warehouse location)                   (public warehouse location)

5.  303 West Artesia Blvd.                    6.  1975 Charles Willard Street
    Compton, California  90220                    Los Angeles, California
    (leased location)                             (leased location)

7.  Ocean Centre
    5 Canton Rd, Suite 1210
    TST
    Hong Kong
    (lease office space)
<PAGE>

THIRD AMENDED AND RESTATED
EXHIBIT B - BUSINESS AND COLLATERAL LOCATIONS
---------------------------------------------
PAGE 2

C.  Bank Accounts of Borrower:

Bank (with address)              Account Number        Type of Account

1.  Republic Securities          0323002325            Operating I Account
    7400 West Camino Real Drive
    Boca Raton, FL  33433

2.  Republic Securities Bank     0323002323            Payroll Account
    7400 West Camino Real Drive
    Boca Raton, FL  33433

                                                    Borrower's Initials: /s/ JK
                                                                        --------
                                                    Officer's Initials: /s/ TH
                                                                        --------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]