Nicholas Financial amended its existing credit facility which, among other changes, extended the maturity date to March 31, 2019 and adjusted the availability of funds thereunder.
Bank of America continued to lead the bank group consortium, with Wells Fargo Preferred Capital, 1st Tennessee Bank and BMO/Harris Bank as participating banks.
“We are extremely pleased that our consortium of bank lenders has agreed to extend the maturity date of our credit line. We are also very thankful for and appreciative of the support of our bank group,” said Doug Marohn, president and CEO of Nicholas Financial. “Having the credit line extended for a full year affords us access to capital to execute and grow our business as we continue to focus on improving our operations and performance.”
Nicholas Financial is a publicly-traded specialty consumer finance company, with branch locations in the Southeastern and Midwestern U.S.