---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-008110"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2025-03-11T23:59:59+00:00"
generated_at: "2026-05-24T23:15:51.646441+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lincoln Educational expands credit facility to $60M, extends maturity to 2028

## Summary
- Credit facility increased from $40M to $60M with Fifth Third Bank.
- Maturity extended from Feb 2027 to March 7, 2028; accordion feature raised to $25M.
- Proceeds for working capital, general corporate, and growth initiatives.
- Financial covenants replaced as part of amendment; other terms unchanged.
- CEO Scott Shaw states robust balance sheet and increased liquidity support long-term objectives.

## SEC filing metadata
- accession: 0001140361-25-008110
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2025-03-11T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1286613/000114036125008110/0001140361-25-008110-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036125008110/ef20045281_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-008110
- JSON: https://secwatch.observer/filing/0001140361-25-008110.json
- Plain text: https://secwatch.observer/filing/0001140361-25-008110.txt

## Key facts
- Debt Financings
  LINCOLN EDUCATIONAL SERVICES CORP amended credit facility of $40 million to $60 million with Fifth Third Bank, National Association maturing March 7, 2028.
  - Instrument: credit facility
  - Principal: $40 million to $60 million
  - Counterparty: Fifth Third Bank, National Association
  - Maturity: March 7, 2028
  - Event: amendment
  source text: The Amendment effects certain modifications to the Credit Agreement including, among other things: (i) to increase the size of the Facility, including the aggregate principal amount from $40 million to $60 million and the accordion feature from $20 million to $25 million, (ii) to extend the term of the Facility to March 7, 2028
  evidence_url: https://www.sec.gov/Archives/edgar/data/1286613/000114036125008110/0001140361-25-008110-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.