Lincoln Educational Services increases credit facility to $125 million

Lincoln Educational Services Corporation (NASDAQ: LINC) announced it has entered into an amended credit facility with Fifth Third Bank and other lenders, increasing its available credit from $60 million to $125 million.

The amended revolving credit facility includes a $10 million letter of credit sublimit and a $25 million accordion feature. The agreement has a five-year term and matures on April 11, 2031. Fifth Third Bank serves as administrative agent, with Flagstar Bank, Provident Bank, and Santander Bank participating as lenders.

The company stated the additional $65 million in available liquidity will provide financial flexibility for growth initiatives and long-term operating objectives.

"The amended and restated revolving credit facility, along with our strong balance sheet and robust cash flow, provides Lincoln with ample financial flexibility to achieve our long-term growth objectives," said Scott M. Shaw, President and Chief Executive Officer.

Shaw referenced previously announced student start growth of 19-20% for the first quarter of 2026. The company filed additional details about the credit facility terms in a Form 8-K with the Securities and Exchange Commission.

Lincoln Educational Services operates 22 campuses across 12 states under three brands: Lincoln College of Technology, Lincoln Technical Institute and Nashville Auto Diesel College. The company provides career-oriented postsecondary education programs in skilled trades, automotive technology, health sciences and information technology.

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