CLEARWATER, Fla. — With eyes on more expansion projects, Nicholas Financial recently revealed it executed an amendment to its bank credit line that increases the size of the credit line from $140 million to $150 million and extends the maturity date to Nov. 30, 2013.

The company indicated all other terms and conditions of its credit line remain in effect.

"We are extremely pleased that our consortium of bank lenders has agreed to increase our credit line and extend the maturity date," Nicholas Financial chairman and chief executive officer Peter Vosotas insisted.

"The credit line increase will allow us to continue our expansion strategy during the next few years," Vosotas continued.

"The company is very proud to continue its lending relationship with Bank of America which began in March of 1993 and also includes Wells Fargo Preferred Capital, Capital One Bank, First Horizon Bank and Bank of Montreal as participating banks," he added.