Scott’s Liquid Gold Announces New Credit Facility with UMB

Scott’s Liquid Gold-Inc. (OTC: SLGD) today announced it has entered a new credit facility with UMB Bank in conjunction with the acquisition of the Biz and Dryel laundry brands.

“We are excited about our new relationship and facility with UMB,” said Kevin A. Paprzycki, CFO and Director of Scott’s Liquid Gold-Inc. “UMB demonstrated the capacity and flexibility that Scott’s needed, enabling us to close the Biz and Dryel acquisition during difficult financing markets. We are excited about entering into a long-term, value creating partnership with UMB.”

Scott’s new credit facility includes a $7 million asset based line of credit, along with a $3 million term loan, with current interest rates of 4.75% and 5.50%, respectively. The credit facility has a three year term and includes typical covenants. The UMB credit facility replaces our existing credit facility with JPMorgan Chase Bank, which was terminated in conjunction with the closing. The Company was assisted by Business Capital, a national commercial finance company, throughout the financing process.

An overview presentation on the Biz and Dryel acquisition and its related financing is posted on the Investor Relations Section of the Company’s website at www.slginc.com.

About Scott’s Liquid Gold-Inc.

Scott’s Liquid Gold-Inc. develops, markets, and sells high-quality, high-value household and personal care products nationally and internationally to mass merchandisers, drugstores, supermarkets, hardware stores, e-commerce retailers, other retail outlets, and to wholesale distributors. Over the last 65+ years we have developed a reputation for delivering products that consumers know and trust.

Our flagship product, Scott’s Liquid Gold® Wood Care, is a leader in its category and is known for bringing life back to and protecting all types of natural wood surfaces. Our Kids N Pets® brands are award winning, biodegradable, safe, nontoxic, stain and odor removing products targeted toward households with children and pets.

Scott’s Liquid Gold-Inc. also owns Neoteric Cosmetics, a personal care company with a rich history of offering products that deliver high-quality, proven results that customers expect. Neoteric’s personal care products are embraced and respected by both medical professionals and consumers alike and include brands such as Alpha® Skin Care, Prell®, and Denorex®. Neoteric Cosmetics is also the proud American specialty channel distributor for Batiste Dry Shampoo.

About UMB

UMB Financial Corporation is an American financial services holding company founded in 1913 as City Center Bank and based in Kansas City, Missouri. It offers complete banking, payment solutions, asset servicing, and institutional investment management to customers.

Contacts

Investor Relations Contact:
Kevin Paprzycki, CFO
303.576.6032