CCA Industries, Inc. announced that it has entered into a new credit facility with M&T Bank, on January 21, 2021 to replace the line of credit with PNC Bank and for general working capital purposes. The credit facility provides a term loan in an amount of $500,000 (the "Term Loan") and a revolving loan up to a maximum of $4,500,000 (the "Revolving Loan" and together with the Term Loan, the "Loans"). The Term Loan is payable in thirty-six consecutive monthly installments of $14,651, including principal and interest, commencing March 2021. The Term Loan bears interest at the rate of 3.50% per annum and has a term of three years. All outstanding amounts under the Revolving Loan bear interest, at the election of the Company, at either the M&T prime rate plus 2.0% or the 30-day LIBOR rate plus 2.75%, payable monthly in arrears. The Revolving Loan is subject to annual renewal. The Loans and all other amounts due and owing under the Credit Agreement and related documents are secured by a first priority perfected security interest in, and lien on, substantially all of the assets of the Company.