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Lincoln Educational Services Expands Credit Facility with Fifth Third Bank
Contract Type
agreement
ParsippanyOtherEducationDescription
Lincoln Educational Services Corporation has 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 increase is aimed at enhancing the Company’s financial flexibility and enabling the execution of growth initiatives to meet its long-term operating objectives. The maturity date has also been extended through March 7, 2028, while the accordion feature of the agreement has been expanded from $20 million to $25 million, further strengthening the Company's ability to pursue growth opportunities.