UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                     Washington, DC  20549


                           FORM 8-K



                       CURRENT REPORT



           PURSUANT TO SECTION 13 OR 15(d) OF THE
               SECURITIES EXCHANGE ACT OF 1934



   Date of Report (Date of earliest event reported) July 21,
                            2005


                   NICHOLAS FINANCIAL, INC.
    (Exact name of registrant as specified in its Charter)


British Columbia, Canada          0-26680          8736-3354
(State or Other Jurisdiction of  (Commission   (I.R.S. Employer
Incorporation or Organization)   File Number)  Identification No.)

  2454 McMullen Booth Road, Building C
    Clearwater, Florida                           33759
  (Address of Principal Executive Offices)      (Zip Code)


                        (727) 726-0763
     (Registrant's telephone number, Including area code)


                        Not applicable
    (Former name, former address and former fiscal year, if
                 changed since last report)



<PAGE> 1


Item 2.02   Results of Operations and Financial Condition

July  21,  2005  - Nicholas Financial, Inc., (NASDAQ:  NICK)
announced  that  net income increased 47% to $2,394,000  for
the  three  months  ended  June  30,  2005  as  compared  to
$1,632,000 for the three months ended June 30, 2004. Diluted
earnings  per  share increased 28% to $0.23  for  the  three
months  ended  June 30, 2005 as compared to  $0.18  for  the
three  months ended June 30, 2004. Revenue increased 26%  to
$9,160,000  for  the three months ended  June  30,  2005  as
compared  to $7,277,000 for the three months ended June  30,
2004.  "These  excellent results are a direct reflection  of
our   disciplined  underwriting,"  according  to  Peter   L.
Vosotas, Chairman and CEO of the Company.



Item 9.01      Financial Statements and Exhibits

Exhibit #      Description

 9       Press release dated July 21, 2005, announcing
          record earnings for the quarter ended June 30,
          2005.


<PAGE> 2

                         SIGNATURES

   Pursuant  to the requirements of the Securities  Exchange
Act  of 1934, the Registrant has duly caused this Report  to
be  signed  on its behalf by the undersigned, hereunto  duly
authorized.


                  NICHOLAS FINANCIAL, INC.
                        (Registrant)


  Date: July 21, 2005           /s/ Peter L. Vosotas
                                Peter L. Vosotas
                                Chairman, President,  Chief
                                Executive Officer
                                (Principal Executive Officer)


  Date: July 21, 2005          /s/ Ralph T. Finkenbrink
                               Ralph T. Finkenbrink
                               (Principal Financial
                                Officer and Accounting
                                Officer)


<PAGE> 3

Exhibit Index

Exhibit     Description

 9       Press release dated July 21, 2005, announcing
          record earnings for the quarter ended June 30,
          2005.


<PAGE> 4
                          Exhibit 9
                                         FOR IMMEDIATE RELEASE



Nicholas Financial, Inc.
Corporate Headquarters

2454 McMullen-Booth Rd.
Building C, Suite 501
Clearwater, FL 33759


Contact: Ralph Finkenbrink        NASDAQ: NICK
         Sr.Vice President, CFO   Web Site: www.nicholasfinancial.com
         Ph # - 727-726-0763





Nicholas Financial Reports Record 1st Quarter Results


July  21,  2005  - Nicholas Financial, Inc., (NASDAQ:  NICK)
announced  that  net income increased 47% to $2,394,000  for
the  three  months  ended  June  30,  2005  as  compared  to
$1,632,000 for the three months ended June 30, 2004. Diluted
earnings  per  share increased 28% to $0.23  for  the  three
months  ended  June 30, 2005 as compared to  $0.18  for  the
three  months ended June 30, 2004. Revenue increased 26%  to
$9,160,000  for  the three months ended  June  30,  2005  as
compared  to $7,277,000 for the three months ended June  30,
2004.  "These  excellent results are a direct reflection  of
our   disciplined  underwriting,"  according  to  Peter   L.
Vosotas, Chairman and CEO of the Company.

  The Company has now reported same quarter record increases
for revenue and earnings in 60 out of the past 61 quarters.

The Company opened its 36th branch location in Indianapolis,
Indiana during the first quarter. The Company currently  has
committed  to  opening additional locations in Conyers,  GA,
Raleigh-Durham,  NC, and Baltimore, MD. The Company  expects
all  three of these new branch offices to be open and  fully
operational during the second quarter.

The Company will hold its 2005 Annual Meeting at 10:00am  on
August  10,  2005 at the Company's headquarters  located  in
Clearwater, Florida.


Founded in 1985, with assets of $125,820,000 as of June  30,
2005,  Nicholas  Financial,  Inc.  is  one  of  the  largest
publicly  traded specialty consumer finance companies  based
in  the Southeast.  The Company presently operates out of 36
branch  locations  in both the Southeast  and  the  Mid-West
States.  The Company has approximately 10,000,000 shares  of
common stock outstanding. For an index of Nicholas Financial
Inc.'s news releases or to obtain a specific release,  visit
our web site at www.nicholasfinancial.com.

Except  for  the historical information contained herein,  the
matters discussed in this news release include forward-looking
statements  that  involve  risks and  uncertainties  including
competitive factors, the management of growth, and other risks
detailed  from  time  to  time in the  Company's  filings  and
reports  with the Securities and Exchange Commission including
the  Company's Annual Report on Form 10-KSB for the year ended
March  31,  2005. Such statements are based on the beliefs  of
the  Company's management as well as assumptions made  by  and
information currently available to Company management.  Actual
events or results may differ materially.


<PAGE> 5

Nicholas Financial, Inc.
Condensed Consolidated Statements of Income
(Unaudited, Dollars in Thousands, Except Per Share Amounts)

<TABLE>
<CAPTION>

                             Three Months Ended June 30,

                                   2005      2004
                                ---------------------
<S>                            <C>          <C>
Revenue:
 Interest income on
  finance receivables           $ 9,110      $ 7,214
 Sales                               50           63
                               --------      -------
                                  9,160        7,277
Costs and expenses:

 Expenses                         3,896        3,157
 Provision for credit losses        428          581
 Interest expense                   981          915
                               --------     --------
                                  5,305        4,653

Operating income
 before income taxes              3,855        2,624
Income tax expense                1,461          992
                               --------     --------
 Net income                    $  2,394     $  1,632
                               ========     ========
Earnings per share:

 Basic                         $   0.24     $   0.19
                               ========     ========
 Diluted                       $   0.23     $   0.18
                               ========     ========

Weighted average shares       9,851,657    8,504,328
                              =========    =========
Weighted average shares and
 assumed dilution            10,481,773    9,095,433
                             ==========    =========

</TABLE>

(Historical shares outstanding and earnings per share have
been adjusted for the June 17, 2005 stock split)

<TABLE>
<CAPTION>

Condensed Consolidated Balance Sheets
(Unaudited, Dollars in Thousands)

                          June 30,       March 31,
                            2005           2005
                         ---------       ---------
<S>                     <C>             <C>
Cash                     $   1,442       $     853
Finance receivables, net   118,089         113,708
Other assets                 6,289           6,254
                         ---------       ---------
 Total assets            $ 125,820       $ 120,815
                         =========       =========

Line of credit           $  67,042       $  65,331
Other notes payable            600           1,000
Other liabilities            9,236           7,726
                         ---------       ---------
 Total liabilities          76,878          74,057

Shareholders' equity        48,942          46,758
                         ---------       ---------
Total liabilities and
 shareholders' equity    $ 125,820       $ 120,815
                         =========       =========

</TABLE>

<PAGE> 6

<TABLE>
<CATPION>
Portfolio Summary             Three months ended June 30,
                                  2005         2004
                            -------------------------------
<S>                           <C>             <C>

Average finance receivables,
 net of unearned interest (1)  $140,718,717  $123,025,445

Average indebtedness (2)       $ 66,986,506    63,714,820

Finance revenue (3)            $  9,109,701  $  7,214,258
Interest expense                    980,553       915,320
                               --------------------------
Net finance revenue            $  8,129,148  $  6,298,938
                               ==========================
Weighted average
 contractual rate (4)                24.12%        24.29%
                               ==========================
Average cost of
 borrowed funds (2)                   5.86%         5.75%
                               ==========================

Gross portfolio yield (5)            25.90%        23.46%

Interest expense as a percentage
of average finance receivables,
net of unearned interest              2.79%         2.98%

Provision for credit losses as a
percentage of average finance
receivables, net of unearned
interest                              1.22%         1.89%
                               --------------------------
Net portfolio yield (5)              21.89%        18.59%

Operating expenses as a
percentage of average finance
receivables, net of unearned
interest (6)                         10.83%        10.04%
                               --------------------------
Pre-tax yield as a percentage of
average finance receivables, net
of unearned interest (7)             11.06%         8.55%
                               ==========================

Write-off to liquidation (8)          5.03%         5.46%

Net charge-off percentage (9)         4.44%         4.65%

</TABLE>

Note:  All  three month key performance indicators expressed
       as percentages have been annualized.

(1) Average  finance receivables, net of unearned  interest,
    represents  the  average of gross  finance  receivables,
    less unearned interest throughout the period.

(2) Average  indebtedness represents the average outstanding
    borrowings  under  the  Line and  notes  payable-related
    party.    Average  cost  of  borrowed  funds  represents
    interest   expense   as   a   percentage   of    average
    indebtedness.

(3) Finance  revenue does not include revenue  generated  by
    Nicholas  Data Services, Inc., ("NDS") the  wholly-owned
    software subsidiary of Nicholas Financial, Inc.

(4) Weighted   average  contractual  rate   represents   the
    weighted  average annual percentage rate  (APR)  of  all
    Contracts  purchased and direct loans originated  during
    the period.

(5) Gross portfolio yield represents finance revenues  as  a
    percentage  of  average  finance  receivables,  net   of
    unearned   interest.  Net  portfolio  yield   represents
    finance  revenue minus (a) interest expense and (b)  the
    provision  for credit losses as a percentage of  average
    finance receivables, net of unearned interest.

(6) Operating   expenses  represent  total  expenses,   less
    interest  expense, the provision for credit  losses  and
    operating costs associated with NDS.

(7) Pre-tax  yield  represents  net  portfolio  yield  minus
    operating  expenses as a percentage of  average  finance
    receivables, net of unearned interest.

(8)      Write-off  to liquidation percentage is defined  as
    net  charge-offs divided by liquidation. Liquidation  is
    defined  as  beginning receivable balance  plus  current
    period  purchases  minus  voids  and  refinances   minus
    ending receivable balance.

(9) Net  charge-off  percentage represents  net  charge-offs
    divided  by average finance receivables, net of unearned
    interest, outstanding during the period.

<PAGE> 7

The  following tables present certain information  regarding
delinquency rates experienced by the Company with respect to
Contracts and under its direct loan program.

<TABLE>
<CATPION>
                                     At June 30,
                              2005               2004
                      -----------------------------------------
<S>                   <C>          <C>      <C>        <C>
     Contracts
Gross Balance
 Outstanding              $183,005,750        $159,986,743
                          =============       ============
Delinquencies

30 to 59 days          $ 2,440,862  1.33%   $ 2,704,294  1.68%
60 to 89 days              649,406  0.35%       539,691  0.34%
90  +  days                174,630  0.10%       219,687  0.14%
                       -----------  -----   -----------  -----
Total Delinquencies    $ 3,264,898  1.78%   $ 3,463,672  2.16%
                       ===========  =====   ===========  =====

     Direct Loans
Gross Balance
 Outstanding              $  6,498,264        $  4,726,746
                          ============        ============
Delinquencies

30  to  59 days        $    70,102  1.08%   $    26,903  0.57%
60 to 89 days               28,183  0.43%        20,089  0.43%
90  + days                  14,144  0.22%        26,998  0.57%
                       -----------  -----   -----------  -----
Total Delinquencies    $   112,429  1.73%   $    73,990  1.57%
                       ===========  =====   ===========  =====

</TABLE>


The amounts shown in the tables below represent the amount of
Contracts purchased, net of unearned interest.

<TABLE>
<CAPTION>
    --------------------------------------------------
                              Three months ended
                                    June 30,
       Contracts                 2005       2004
    --------------------------------------------------
      <S>                   <C>         <C>
       Purchases             $23,421,962  $22,399,319

       Weighted APR               23.99%       24.11%

       Average Discount            8.55%        8.76%

       Average Term (months)          45           44

       Average Loan               $8,704       $8,275

       Number of Contracts         2,691        2,707
    ----------------------------------------------------

</TABLE>
[{"type": "8-K", "sequence": "1", "filename": "r8k-072105.txt", "description": "8K FILING FOR 1ST QTR PRESS RELEASE", "secsgml_size_bytes": 15227}]
{"company-data": {"conformed-name": "NICHOLAS FINANCIAL INC", "cik": "0001000045", "assigned-sic": "6153", "irs-number": "593019317", "state-of-incorporation": "FL", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26680", "film-number": "05965136"}, "business-address": {"street1": "2454 MCMILLEN BOOTH RD", "street2": "BLDG C 501 B", "city": "CLEARWATER", "state": "FL", "zip": "33759", "phone": "8137260763"}, "mail-address": {"street1": "2454 MCMULLEN BOOTH RD", "street2": "BLDG C SUITE 501B", "city": "CLEARWATER", "state": "FL", "zip": "33759"}}
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                     Washington, DC  20549

                           FORM 8-K

                       CURRENT REPORT

           PURSUANT TO SECTION 13 OR 15(d) OF THE
               SECURITIES EXCHANGE ACT OF 1934

   Date of Report (Date of earliest event reported) July 21,
                            2005

                   NICHOLAS FINANCIAL, INC.
    (Exact name of registrant as specified in its Charter)

British Columbia, Canada          0-26680          8736-3354
(State or Other Jurisdiction of  (Commission   (I.R.S. Employer
Incorporation or Organization)   File Number)  Identification No.)

  2454 McMullen Booth Road, Building C
    Clearwater, Florida                           33759
  (Address of Principal Executive Offices)      (Zip Code)

                        (727) 726-0763
     (Registrant's telephone number, Including area code)

                        Not applicable
    (Former name, former address and former fiscal year, if
                 changed since last report)
1

Item 2.02   Results of Operations and Financial Condition

July  21,  2005  - Nicholas Financial, Inc., (NASDAQ:  NICK)
announced  that  net income increased 47% to $2,394,000  for
the  three  months  ended  June  30,  2005  as  compared  to
$1,632,000 for the three months ended June 30, 2004. Diluted
earnings  per  share increased 28% to $0.23  for  the  three
months  ended  June 30, 2005 as compared to  $0.18  for  the
three  months ended June 30, 2004. Revenue increased 26%  to
$9,160,000  for  the three months ended  June  30,  2005  as
compared  to $7,277,000 for the three months ended June  30,
2004.  "These  excellent results are a direct reflection  of
our   disciplined  underwriting,"  according  to  Peter   L.
Vosotas, Chairman and CEO of the Company.

Item 9.01      Financial Statements and Exhibits

Exhibit #      Description

 9       Press release dated July 21, 2005, announcing
          record earnings for the quarter ended June 30,
          2005.
2

                         SIGNATURES

   Pursuant  to the requirements of the Securities  Exchange
Act  of 1934, the Registrant has duly caused this Report  to
be  signed  on its behalf by the undersigned, hereunto  duly
authorized.

                  NICHOLAS FINANCIAL, INC.
                        (Registrant)

  Date: July 21, 2005           /s/ Peter L. Vosotas
                                Peter L. Vosotas
                                Chairman, President,  Chief
                                Executive Officer
                                (Principal Executive Officer)

  Date: July 21, 2005          /s/ Ralph T. Finkenbrink
                               Ralph T. Finkenbrink
                               (Principal Financial
                                Officer and Accounting
                                Officer)
3

Exhibit Index

Exhibit     Description

 9       Press release dated July 21, 2005, announcing
          record earnings for the quarter ended June 30,
          2005.
4
                          Exhibit 9
                                         FOR IMMEDIATE RELEASE

Nicholas Financial, Inc.
Corporate Headquarters

2454 McMullen-Booth Rd.
Building C, Suite 501
Clearwater, FL 33759

Contact: Ralph Finkenbrink        NASDAQ: NICK
         Sr.Vice President, CFO   Web Site: www.nicholasfinancial.com
         Ph # - 727-726-0763

Nicholas Financial Reports Record 1st Quarter Results

July  21,  2005  - Nicholas Financial, Inc., (NASDAQ:  NICK)
announced  that  net income increased 47% to $2,394,000  for
the  three  months  ended  June  30,  2005  as  compared  to
$1,632,000 for the three months ended June 30, 2004. Diluted
earnings  per  share increased 28% to $0.23  for  the  three
months  ended  June 30, 2005 as compared to  $0.18  for  the
three  months ended June 30, 2004. Revenue increased 26%  to
$9,160,000  for  the three months ended  June  30,  2005  as
compared  to $7,277,000 for the three months ended June  30,
2004.  "These  excellent results are a direct reflection  of
our   disciplined  underwriting,"  according  to  Peter   L.
Vosotas, Chairman and CEO of the Company.

  The Company has now reported same quarter record increases
for revenue and earnings in 60 out of the past 61 quarters.

The Company opened its 36th branch location in Indianapolis,
Indiana during the first quarter. The Company currently  has
committed  to  opening additional locations in Conyers,  GA,
Raleigh-Durham,  NC, and Baltimore, MD. The Company  expects
all  three of these new branch offices to be open and  fully
operational during the second quarter.

The Company will hold its 2005 Annual Meeting at 10:00am  on
August  10,  2005 at the Company's headquarters  located  in
Clearwater, Florida.

Founded in 1985, with assets of $125,820,000 as of June  30,
2005,  Nicholas  Financial,  Inc.  is  one  of  the  largest
publicly  traded specialty consumer finance companies  based
in  the Southeast.  The Company presently operates out of 36
branch  locations  in both the Southeast  and  the  Mid-West
States.  The Company has approximately 10,000,000 shares  of
common stock outstanding. For an index of Nicholas Financial
Inc.'s news releases or to obtain a specific release,  visit
our web site at www.nicholasfinancial.com.

Except  for  the historical information contained herein,  the
matters discussed in this news release include forward-looking
statements  that  involve  risks and  uncertainties  including
competitive factors, the management of growth, and other risks
detailed  from  time  to  time in the  Company's  filings  and
reports  with the Securities and Exchange Commission including
the  Company's Annual Report on Form 10-KSB for the year ended
March  31,  2005. Such statements are based on the beliefs  of
the  Company's management as well as assumptions made  by  and
information currently available to Company management.  Actual
events or results may differ materially.
5

Nicholas Financial, Inc.
Condensed Consolidated Statements of Income
(Unaudited, Dollars in Thousands, Except Per Share Amounts)
Three Months Ended June 30,

                                   2005      2004
                                ---------------------
Revenue:
 Interest income on
  finance receivables           $ 9,110      $ 7,214
 Sales                               50           63
                               --------      -------
                                  9,160        7,277
Costs and expenses:

 Expenses                         3,896        3,157
 Provision for credit losses        428          581
 Interest expense                   981          915
                               --------     --------
                                  5,305        4,653

Operating income
 before income taxes              3,855        2,624
Income tax expense                1,461          992
                               --------     --------
 Net income                    $  2,394     $  1,632
                               ========     ========
Earnings per share:

 Basic                         $   0.24     $   0.19
                               ========     ========
 Diluted                       $   0.23     $   0.18
                               ========     ========

Weighted average shares       9,851,657    8,504,328
                              =========    =========
Weighted average shares and
 assumed dilution            10,481,773    9,095,433
                             ==========    =========
(Historical shares outstanding and earnings per share have
been adjusted for the June 17, 2005 stock split)
Condensed Consolidated Balance Sheets
(Unaudited, Dollars in Thousands)

                          June 30,       March 31,
                            2005           2005
                         ---------       ---------
Cash                     $   1,442       $     853
Finance receivables, net   118,089         113,708
Other assets                 6,289           6,254
                         ---------       ---------
 Total assets            $ 125,820       $ 120,815
                         =========       =========

Line of credit           $  67,042       $  65,331
Other notes payable            600           1,000
Other liabilities            9,236           7,726
                         ---------       ---------
 Total liabilities          76,878          74,057

Shareholders' equity        48,942          46,758
                         ---------       ---------
Total liabilities and
 shareholders' equity    $ 125,820       $ 120,815
                         =========       =========
6
Portfolio Summary             Three months ended June 30,
                                  2005         2004
                            -------------------------------
Average finance receivables,
 net of unearned interest (1)  $140,718,717  $123,025,445

Average indebtedness (2)       $ 66,986,506    63,714,820

Finance revenue (3)            $  9,109,701  $  7,214,258
Interest expense                    980,553       915,320
                               --------------------------
Net finance revenue            $  8,129,148  $  6,298,938
                               ==========================
Weighted average
 contractual rate (4)                24.12%        24.29%
                               ==========================
Average cost of
 borrowed funds (2)                   5.86%         5.75%
                               ==========================

Gross portfolio yield (5)            25.90%        23.46%

Interest expense as a percentage
of average finance receivables,
net of unearned interest              2.79%         2.98%

Provision for credit losses as a
percentage of average finance
receivables, net of unearned
interest                              1.22%         1.89%
                               --------------------------
Net portfolio yield (5)              21.89%        18.59%

Operating expenses as a
percentage of average finance
receivables, net of unearned
interest (6)                         10.83%        10.04%
                               --------------------------
Pre-tax yield as a percentage of
average finance receivables, net
of unearned interest (7)             11.06%         8.55%
                               ==========================

Write-off to liquidation (8)          5.03%         5.46%

Net charge-off percentage (9)         4.44%         4.65%
Note:  All  three month key performance indicators expressed
       as percentages have been annualized.

(1) Average  finance receivables, net of unearned  interest,
    represents  the  average of gross  finance  receivables,
    less unearned interest throughout the period.

(2) Average  indebtedness represents the average outstanding
    borrowings  under  the  Line and  notes  payable-related
    party.    Average  cost  of  borrowed  funds  represents
    interest   expense   as   a   percentage   of    average
    indebtedness.

(3) Finance  revenue does not include revenue  generated  by
    Nicholas  Data Services, Inc., ("NDS") the  wholly-owned
    software subsidiary of Nicholas Financial, Inc.

(4) Weighted   average  contractual  rate   represents   the
    weighted  average annual percentage rate  (APR)  of  all
    Contracts  purchased and direct loans originated  during
    the period.

(5) Gross portfolio yield represents finance revenues  as  a
    percentage  of  average  finance  receivables,  net   of
    unearned   interest.  Net  portfolio  yield   represents
    finance  revenue minus (a) interest expense and (b)  the
    provision  for credit losses as a percentage of  average
    finance receivables, net of unearned interest.

(6) Operating   expenses  represent  total  expenses,   less
    interest  expense, the provision for credit  losses  and
    operating costs associated with NDS.

(7) Pre-tax  yield  represents  net  portfolio  yield  minus
    operating  expenses as a percentage of  average  finance
    receivables, net of unearned interest.

(8)      Write-off  to liquidation percentage is defined  as
    net  charge-offs divided by liquidation. Liquidation  is
    defined  as  beginning receivable balance  plus  current
    period  purchases  minus  voids  and  refinances   minus
    ending receivable balance.

(9) Net  charge-off  percentage represents  net  charge-offs
    divided  by average finance receivables, net of unearned
    interest, outstanding during the period.
7

The  following tables present certain information  regarding
delinquency rates experienced by the Company with respect to
Contracts and under its direct loan program.
At June 30,
                              2005               2004
                      -----------------------------------------
Contracts
Gross Balance
 Outstanding              $183,005,750        $159,986,743
                          =============       ============
Delinquencies

30 to 59 days          $ 2,440,862  1.33%   $ 2,704,294  1.68%
60 to 89 days              649,406  0.35%       539,691  0.34%
90  +  days                174,630  0.10%       219,687  0.14%
                       -----------  -----   -----------  -----
Total Delinquencies    $ 3,264,898  1.78%   $ 3,463,672  2.16%
                       ===========  =====   ===========  =====

     Direct Loans
Gross Balance
 Outstanding              $  6,498,264        $  4,726,746
                          ============        ============
Delinquencies

30  to  59 days        $    70,102  1.08%   $    26,903  0.57%
60 to 89 days               28,183  0.43%        20,089  0.43%
90  + days                  14,144  0.22%        26,998  0.57%
                       -----------  -----   -----------  -----
Total Delinquencies    $   112,429  1.73%   $    73,990  1.57%
                       ===========  =====   ===========  =====
The amounts shown in the tables below represent the amount of
Contracts purchased, net of unearned interest.
--------------------------------------------------
                              Three months ended
                                    June 30,
       Contracts                 2005       2004
    --------------------------------------------------
Purchases             $23,421,962  $22,399,319

       Weighted APR               23.99%       24.11%

       Average Discount            8.55%        8.76%

       Average Term (months)          45           44

       Average Loan               $8,704       $8,275

       Number of Contracts         2,691        2,707
    ----------------------------------------------------