On October 10, 2015, Lakeland Industries, Inc.s China subsidiary, Weifang Lakeland Safety Products Co., Ltd (WF), and Bank of China Anqui Branch (BOC) completed an agreement for WF to refinance its existing line of credit with BOC. This refinances a loan from BOC to WF on the same terms in the amount of up to RMB 5,000,000 (approximately USD $789,000). WF intends to draw down most of the loan amount, if not all, within a relatively short period of time. Below is a summary of the material terms of the loan facility:

o

Amount of loan:

RMB 5,000,000 (approximately $789,000)

o

Maturity Date:

October 9,2016

o

Purpose of loan:

Purchase of materials

o

Collateral:

Building property and land use right owned by WF

o

Interest rate of loan and calculation:

Effective per annum interest rate of 7.0% paid monthly

Item 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosures set forth in Item 1.01 are incorporated by reference to this item.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.

10.1

Loan Agreement, dated October 10, 2015, between Weifang Lakeland Safety Products Inc., Ltd. and Bank of China Anqui Branch.

10.2

Summary of Exhibit 10.1 in English.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LAKELAND INDUSTRIES, INC.

/

s/ Christopher J. Ryan

Christopher J. Ryan

Chief Executive Officer &

President

Date: October 15, 2015

EXHIBIT INDEX

Exhibit

Number

Description

10.1

Loan Agreement, dated October 10, 2015, between Weifang Lakeland Safety Products Inc., Ltd. and Bank of China Anqui Branch.

10.2

Summary of Exhibit 10.1 in English.

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