---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-014854"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2026-04-16T23:59:59+00:00"
generated_at: "2026-05-15T05:43:16.397655+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lincoln Educational expands revolving credit facility to $125M from $60M

## Summary
- New $125M credit facility replaces prior $60M agreement; includes $10M LC sublimit and $25M accordion feature.
- Facility matures on April 11, 2031; proceeds support working capital and growth initiatives.
- CEO cites Q1 2026 student start growth of 19-20% as evidence of demand and strategy execution.
- Interest rates based on SOFR or Prime plus margins from 1.50%-2.25% (SOFR) or 0.50%-1.25% (Prime), determined by Total Leverage Ratio.
- Facility guaranteed by subsidiaries and secured by first-priority lien on substantially all personal property.

## SEC filing metadata
- accession: 0001140361-26-014854
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2026-04-16T23:59:59+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/1286613/000114036126014854/0001140361-26-014854-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036126014854/ef20070646_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-014854
- JSON: https://secwatch.observer/filing/0001140361-26-014854.json
- Plain text: https://secwatch.observer/filing/0001140361-26-014854.txt

## Source-grounded claims
- claim_id: 5faa9663553def09486e6a83de720e2b268c508a
  claim: LINCOLN EDUCATIONAL SERVICES CORP incurred revolving credit of $125 million with Fifth Third Bank, National Association at Tranche Rate (SOFR) plus 1.50% to 2.25% or Base Rate plus 0.50% to 1.25% maturing April 11, 2031.
  evidence_excerpt: The Credit Agreement, which amends and restates the Existing Credit Agreement, provides the Company, as borrower, with a revolving credit facility in the aggregate principal amount of $125 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1286613/000114036126014854/0001140361-26-014854-index.htm
- claim_id: d9a207ee520b485beec7da5cbaac85192f9d2dc4
  claim: LINCOLN EDUCATIONAL SERVICES CORP entered into Credit Agreement with Fifth Third Bank, National Association, Flagstar Bank, N.A., Provident Bank and Santander Bank, N.A. valued at $125 million (effective 2026-04-13).
  evidence_excerpt: On April 13, 2026, Lincoln Educational Services Corporation and its subsidiaries (the “Company”) entered into an amended and restated credit agreement (the “Credit Agreement”) with the lenders referred to therein (the “Lenders”), including Fifth Third Bank, National Association, as lender and as administrative agent, joint lead arranger, and joint bookrunner (the “Agent”), and Flagstar Bank, N.A., Provident Bank and Santander Bank, N.A., as lenders and as joint lead arrangers and joint bookrunners.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1286613/000114036126014854/0001140361-26-014854-index.htm

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