EXHIBIT 10.15


                              TERM PROMISSORY NOTE


$1,426,000                                                      January __, 2001



     FOR VALUE RECEIVED, CTI INDUSTRIES CORPORATION, a Delaware corporation (the
"Debtor"), hereby unconditionally promises to pay to the order of CONGRESS
FINANCIAL CORPORATION (CENTRAL), an Illinois corporation (the "Payee"), at the
offices of Payee at 150 South Wacker Drive, Suite 2200, Chicago, Illinois 60606,
or at such other place as the Payee or any holder hereof may from time to time
designate, the principal sum of ONE MILLION FOUR HUNDRED TWENTY-SIX THOUSAND AND
NO/100 DOLLARS ($1,426,000) in lawful money of the United States of America and
in immediately available funds in seventy-two (72) consecutive monthly
installments (or earlier as hereinafter provided) on the first day of each month
commencing on February 1, 2001, each in an amount of NINETEEN THOUSAND EIGHT
HUNDRED FIVE AND NO/100 DOLLARS ($19,805) and a final installment on the sixth
anniversary of the date hereof in the amount of the entire unpaid balance of
this Note; provided, that, notwithstanding the foregoing, the unpaid principal
balance of this Note shall be due and payable on the termination of the Loan
Agreement. In addition, this Note is subject to mandatory prepayments set forth
in the Loan Agreement.

     Debtor hereby further promises to pay interest to the order of Payee on the
unpaid principal balance hereof at the Interest Rate (as hereinafter defined).
Such interest shall be paid in like money at said office or place from the date
hereof, commencing February 1, 2001 and on the first day of each month
thereafter until the indebtedness evidenced by this Note is paid in full.
Interest payable upon and after an Event of Default or termination or
non-renewal of the Loan Agreement shall be payable upon demand.

     For purposes hereof, (a) the term "Interest Rate" shall mean a rate of
three quarters of one percent (0.75%) per annum in excess of the Prime Rate;
provided, that, at Payee's option, the Interest Rate shall mean a rate of two
and three quarters percent (2.75%) per annum in excess of the Prime Rate upon
and after an Event of Default or termination or non-renewal of the Loan
Agreement; provided, further, that if no Event of Default exists and the audited
consolidated financial statements of Debtor for any fiscal year ending on or
after December 31, 2001 show that Debtor's net income (before taxes) exceeded
$750,000 for such fiscal year, on the tenth day after Payee's receipt of such
financial statements the Interest Rate shall be reduced by twenty-five (25)
basis points; provided, further, that the Interest Rate may not be reduced more
than once and if the audited consolidated financial statements of Debtor for any
fiscal year ending on or after December 31, 2002 show a net loss for such fiscal
year, the Interest Rate shall revert to the original amount prior to any such
reduction

<PAGE>

(for purposes hereof, net income and net loss shall be calculated exclusive of
nonrecurring or one time gains and extraordinary gains), (b) the term "Prime
Rate" shall mean the rate from time to time announced by First Union National
Bank or its successors, as its prime rate, whether or not such announced rate is
the best rate available at such bank, (c) the term "Event of Default" shall mean
an Event of Default as such term is defined in the Loan Agreement, and (d) the
term "Loan Agreement" shall mean the Loan and Security Agreement, dated of even
date herewith, between Debtor and Payee, as the same now exists or may hereafter
be amended, modified, supplemented, extended, renewed, restated or replaced.
Unless otherwise defined herein, all capitalized terms used herein shall have
the meaning assigned thereto in the Loan Agreement.

     The Interest Rate payable hereunder shall increase or decrease by an amount
equal to each increase or decrease, respectively, in the Prime Rate, effective
on the first day of the month after any change in the Prime Rate is announced.
The increase or decrease shall be based on the Prime Rate in effect on the last
day of the month in which any such change occurs. Interest shall be calculated
on the basis of a three hundred sixty (360) day year and actual days elapsed. In
no event shall the interest charged hereunder exceed the maximum permitted under
the laws of the State of Illinois or other applicable law.

     This Note is issued pursuant to the terms and provisions of the Loan
Agreement to evidence the Term Loan by Payee to Debtor. This Note is secured by
the Collateral described in the Loan Agreement and all notes, guarantees,
security agreements and other agreements, documents and instruments now or at
any time hereafter executed and/or delivered by Debtor or any other party in
connection therewith (all of the foregoing, together with the Loan Agreement, as
the same now exist or may hereafter be amended, modified, supplemented, renewed,
extended, restated or replaced, being collectively referred to herein as the
"Financing Agreements"), and is entitled to all of the benefits and rights
thereof and of the other Financing Agreements. At the time any payment is due
hereunder, at its option, Payee may charge the amount thereof to any account of
Debtor maintained by Payee.

     If any payment of principal or interest is not made when due hereunder, or
if any other Event of Default shall occur for any reason, or if the Loan
Agreement shall be terminated or not renewed for any reason whatsoever, then and
in any such event, in addition to all rights and remedies of Payee under the
Financing Agreements, applicable law or otherwise, all such rights and remedies
being cumulative, not exclusive and enforceable alternatively, successively and
concurrently, Payee may, at its option, declare any or all of Debtor's
obligations, liabilities and indebtedness owing to Payee under the Loan
Agreement and the other Financing Agreements (the "Obligations"), including,
without limitation, all amounts owing under this Note, to be due and payable,
whereupon the then unpaid balance hereof, together with all interest accrued
thereon, shall forthwith become due and payable, together with interest accruing
thereafter at the then applicable Interest Rate stated above until the
indebtedness evidenced by this Note is paid in full, plus the costs and expenses
of collection hereof, including, but not limited to, attorneys' fees and legal
expenses.


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<PAGE>


     Debtor (i) waives diligence, demand, presentment, protest and notice of any
kind, (ii) agrees that it will not be necessary for Payee to first institute
suit in order to enforce payment of this Note and (iii) consents to any one or
more extensions or postponements of time of payment, release, surrender or
substitution of collateral security, or forbearance or other indulgence, without
notice or consent. The pleading of any statute of limitations as a defense to
any demand against Debtor is expressly hereby waived by Debtor. Upon any Event
of Default or termination or non-renewal of the Loan Agreement, Payee shall have
the right, but not the obligation to setoff against this Note all money owed by
Payee to Debtor.

     Payee shall not be required to resort to any Collateral for payment, but
may proceed against Debtor and any guarantors or endorsers hereof in such order
and manner as Payee may choose. None of the rights of Payee shall be waived or
diminished by any failure or delay in the exercise thereof.

     The validity, interpretation and enforcement of this Note and the other
Financing Agreements and any dispute arising in connection herewith or therewith
shall be governed by the internal laws of the State of Illinois (without giving
effect to principles of conflicts of law).

     Debtor irrevocably consents and submits to the non-exclusive jurisdiction
of the Circuit Court of Cook County and the United States District Court for the
Northern District of Illinois and waives any objection based on venue or forum
non conveniens with respect to any action instituted therein arising under this
Note or any of the other Financing Agreements or in any way connected with or
related or incidental to the dealings of Debtor and Payee in respect of this
Note or any of the other Financing Agreements or the transactions related hereto
or thereto, in each case whether now existing or hereafter arising, and whether
in contract, tort, equity or otherwise, and agrees that any dispute arising out
of the relationship between Debtor and Payee or the conduct of such persons in
connection with this Note or otherwise shall be heard only in the courts
described above (except that Payee shall have the right to bring any action or
proceeding against Debtor or its property in the courts of any other
jurisdiction which Payee deems necessary or appropriate in order to realize on
the Collateral or to otherwise enforce its rights against Debtor or its
property).

     Debtor hereby waives personal service of any and all process upon it and
consents that all such service of process may be made by certified mail (return
receipt requested) directed to it and service so made shall be deemed to be
completed five (5) days after the same shall have been so deposited in the U.S.
mails, or, at Payee's option, by service upon Debtor in any other manner
provided under the rules of any such courts. Within thirty (30) days after such
service, Debtor shall appear in answer to such process, failing which Debtor
shall be deemed in default and judgment may be entered by Payee against Debtor
for the amount of the claim and other relief requested.

     DEBTOR HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND,
ACTION OR CAUSE OF ACTION (i) ARISING UNDER THIS


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<PAGE>


NOTE OR (ii) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS
BETWEEN DEBTOR AND PAYEE IN RESPECT OF THIS NOTE OR THE OTHER FINANCING
AGREEMENTS OR THE TRANSACTIONS RELATED HERETO OR THERETO IN EACH CASE WHETHER
NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY OR
OTHERWISE. DEBTOR AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR
CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY.

     The execution and delivery of this Note has been authorized by the Board of
Directors and by any necessary vote or consent of the stockholders of Debtor.
Debtor hereby authorizes Payee to complete this Note in any particulars
according to the terms of the loan evidenced hereby.


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<PAGE>


     This Note shall be binding upon the successors and assigns of Debtor and
inure to the benefit of Payee and its successors, endorsees and assigns.
Whenever used herein, the term "Debtor" shall be deemed to include its
successors and assigns and the term "Payee" shall be deemed to include its
successors, endorsees and assigns. If any term or provision of this Note shall
be held invalid, illegal or unenforceable, the validity of all other terms and
provisions hereof shall in no way be affected thereby.


ATTEST:                                 CTI INDUSTRIES CORPORATION


By                                      By  /s/ Howard Schwan
   -----------------------------            -------------------------


Its                                     Its President
   -----------------------------            -------------------------



         [Corporate Seal]



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