PARSIPPANY, N.J. – Lincoln Educational Services Corporation (Nasdaq: LINC) announced an amendment to its secured credit agreement with Fifth Third Bank, National Association, increasing the aggregate principal borrowing amount from $40 million to $60 million. The expanded facility enhances financial liquidity, allowing the company to execute key growth initiatives and long-term operating objectives. The amendment also extends the maturity date to March 7, 2028.
Additionally, the agreement’s accordion feature has been expanded from $20 million to $25 million, further strengthening Lincoln’s ability to pursue strategic opportunities.
Scott M. Shaw, President and Chief Executive Officer of Lincoln Educational Services, stated:
“We currently have a robust balance sheet. However, this amendment provides additional financial flexibility and ensures we can achieve our long-term growth objectives. We remain focused on delivering value to our key stakeholders, and we believe the increased liquidity and strategic investments will enable us to achieve sustained long-term success.”
The expanded credit facility reinforces Lincoln’s commitment to growth, financial stability, and delivering value to students, partners, and investors.
