Lincoln Educational Services Increases Credit Facility to $125 Million

The expanded credit facility will support the company's growth initiatives and long-term objectives.

Apr. 15, 2026 at 7:36pm

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A minimalist studio still life featuring a stack of financial documents, a pen, and a calculator arranged elegantly on a clean, monochromatic background, conceptually representing the company's financial flexibility and growth strategy.Lincoln Educational Services' expanded credit facility provides the resources to fuel its strategic growth initiatives.Parsippany Today

Lincoln Educational Services Corporation announced that it has entered into an amended and restated revolving credit facility with Fifth Third Bank, National Association, Flagstar Bank, N.A., Provident Bank, and Santander Bank, N.A. The credit facility increases the aggregate principal amount from $60 million to $125 million, providing the company with additional liquidity to execute its growth plans and meet long-term operating goals.

Why it matters

The increased credit facility enhances Lincoln Educational Services' financial flexibility to invest in its growth strategy, which has already demonstrated success with a 19-20% increase in student starts in the first quarter of 2026. This additional liquidity will allow the company to continue delivering value to its key stakeholders and achieve sustained long-term success.

The details

The amended and restated credit facility has a term of five years and matures on April 11, 2031. It includes a $10 million letter of credit sublimit and a $25 million accordion feature, providing Lincoln Educational Services with even greater financial resources to support its expansion plans.

  • The credit facility was announced on April 15, 2026.
  • The credit facility matures on April 11, 2031.

The players

Lincoln Educational Services Corporation

A leading provider of diversified career-oriented postsecondary education, operating 22 campuses in 12 states under 3 brands: Lincoln College of Technology, Lincoln Technical Institute, and Nashville Auto Diesel College.

Fifth Third Bank, National Association

The lender and administrative agent, joint lead arranger, and joint bookrunner for the credit facility.

Flagstar Bank, N.A.

A lender and joint lead arranger and joint bookrunner for the credit facility.

Provident Bank

A lender and joint lead arranger and joint bookrunner for the credit facility.

Santander Bank, N.A.

A lender and joint lead arranger and joint bookrunner for the credit facility.

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What they’re saying

“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.”

— Scott M. Shaw, President and Chief Executive Officer

What’s next

Lincoln Educational Services will use the additional $65 million in available liquidity provided by the amended and restated credit facility to execute its growth initiatives and meet its long-term operating objectives.

The takeaway

The increased credit facility demonstrates Lincoln Educational Services' commitment to investing in its growth strategy, which has already shown positive results in the form of a 19-20% increase in student starts. This additional financial flexibility will allow the company to continue delivering value to its stakeholders and achieve sustained long-term success in the postsecondary education market.