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<p ALIGN="CENTER"><B>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C. 20549</B></p>

<p ALIGN="CENTER">___________</p>
<p ALIGN="CENTER"><b><font SIZE="5">
FORM 8-K
</font></b></p><p ALIGN="CENTER"><b><font SIZE="5">
CURRENT REPORT
</font></b></p>
<p ALIGN="center">&nbsp;</p>
<p ALIGN="center"><b>Pursuant to Section 13 or 15(d) of
the<BR>Securities Exchange Act of 1934</b></p>
<p ALIGN="center">&nbsp;</p>

<p ALIGN="CENTER">Date of Report: December 30, 2002<BR><font size="2">(Date of earliest event reported)</font><BR>&nbsp;</p>

<p ALIGN="CENTER"><B><FONT size=5>TFC ENTERPRISES, INC.</FONT></B>
<BR><font size="2">(Exact Name of Registrant as Specified in its
Charter)</font></p>
<p ALIGN="CENTER">&nbsp;</p>
<table CELLSPACING="0" BORDER="0" CELLPADDING="7" WIDTH="638" align=center>
  <tr>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="center"><b>Delaware
      </b>
     <BR><font size="2">(State or Other
      Jurisdiction<BR>of Incorporation)</font></p></td>
    <td WIDTH="33%" VALIGN="TOP" COLSPAN="2">
      <p ALIGN="CENTER"><b>0-22910
      </b><BR><font size="2">(Commission File
      Number)</font></td>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="CENTER"><b>54-1306895      </b><BR>
<font size="2">(IRS Employer<BR>Identification
      No.)</font></td>
  </tr>
  <tr>
    <td WIDTH="33%" VALIGN="TOP">
      <p>&nbsp;</p>
    </td>
    <td WIDTH="33%" VALIGN="TOP" COLSPAN="2">
      <p>&nbsp;</p>
    </td>
    <td WIDTH="33%" VALIGN="TOP">
      <p>&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td WIDTH="50%" VALIGN="TOP" COLSPAN="2">
      <p ALIGN="CENTER"><b>5425 Robin Hood Road, Suite 101B<BR>Norfolk, Virginia
      </b>
<BR><font size="2">(Address of
      Principal Executive Offices)</font></td>
    <td WIDTH="50%" VALIGN="TOP" COLSPAN="2">
      <p ALIGN="CENTER"><b>23513
      </b>
<BR><font size="2">(Zip Code)</font></p></td>
  </tr>
  <tr>
    <td WIDTH="50%" VALIGN="TOP" COLSPAN="2">
      <p>&nbsp;</p>
    </td>
    <td WIDTH="50%" VALIGN="TOP" COLSPAN="2">
      <p>&nbsp;</p>
    </td>
  </tr>
</table>
<p ALIGN="CENTER">Registrant's telephone number, including area code:<BR><b>(757) 858-1400</b></p>
<hr noshade size="3">
<p ALIGN="JUSTIFY"><br>
<br>
</p>
<hr noshade size="6">
<p ALIGN="JUSTIFY"><br>
<br><BR><BR>
<B>Item 5.&nbsp;&nbsp;&nbsp; &nbsp;Other Events and Required FD Disclosure.</b></p>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registrant  and General  Electric  Capital  Corporation  ("Lender")  are parties to an Amended and Restated  Motor Vehicle  Installment
Contract Loan and Security  Agreement  dated March 31, 2001, as amended by Amendment No. 1 dated June 27, 2001, as amended by Amendment
No. 2 dated  November 29,  2001,  as amended by Amendment  No. 3 dated March 12, 2002,  as amended by Amendment  No. 4 dated August 30,
2002,  as amended by Amendment  No. 5 dated  October 7, 2002,  as amended by  Amendment  No. 6 dated  October 18,  2002,  as amended by
Amendment No. 7 dated November 27, 2002 (as so amended,  the  "Agreement").  On December 30, 2002,  Registrant  and Lender  executed an
Amendment  No.  8 to the  Agreement  ("Amendment  No.  8").  Amendment  No. 8  reduces  Registrant's  advance  rate  used to  determine
availability  on its line of credit and prorates  Registrant's  line fee on a monthly basis.  Registrant and Lender have agreed that if
Registrant pays its  indebtedness  under its line of credit with Lender in full before  February 1, 2003,  Lender will waive its rights
to acquire Registrant common stock pursuant to certain warrants previously provided by Registrant to Lender.
<BR>

<p ALIGN="JUSTIFY"><b>Item 7.&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements, <i>Pro Forma</i> Financial
Information and Exhibits.</b></p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</p>
<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Exhibit No.</u>&nbsp;&nbsp;&nbsp;
<u>Description</u></p>

    <table border="0" cellpadding="0" cellspacing="8" width=660>
      <tr>
        <td width=120 align=right>10.1
          <p>&nbsp;</td>
        <td width=440 align=justify><p>Amendment No. 8 to Amended and Restated
          Vehicle Installment Contract Loan and Security Agreement between
          Registrant and General Electric Capital Corporation dated December 30,
          2002.</p></td>
</tr>
<tr>
<td align=right valign=top>99.1</td>
<td align=justify><p>Letter from General Electric Capital Corporation to Registration
dated December 30, 2002 regarding Amendment No. 8 to Amended and Restated Vehicle Installment
Contract Loan and Security Agreement.</p></td>
      </tr>

    </table>

<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
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<p ALIGN="CENTER"><br>
<br><BR>
<b>SIGNATURE</b></p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</p>
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
TFC ENTERPRISES, INC.</b></p>

<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY">Dated:&nbsp;&nbsp; January 8, 2003&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By:<u>&nbsp;&nbsp;/s/ Robert S. Raley, Jr. &nbsp;&nbsp;</u>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Robert S. Raley, Jr.<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
President and Chief Executive Officer</p>


<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
<hr noshade size="6">

<BR><BR><BR><BR><BR><BR><BR>
<BR><p ALIGN="CENTER"><b>INDEX TO EXHIBITS</b></p>
<BR>
  <table border="0" cellpadding="0" cellspacing="0" width="660" align=center>
    <tr>
      <td width="59" valign=top><p><u>No.</u></P></td>
      <td width="601"><p><U>Description</u></p><BR></td>
    </tr>
    <tr>
    <td width="59" valign=top>10.1 </td>
    <td width="601">Amendment No. 8 to Amended and Restated Vehicle
      Installment Contract Loan and Security Agreement between Registrant and
      General Electric Capital Corporation dated December 30, 2002.</td>
  </tr>
  <tr>
<td valign=top>99.1</td>
<td><p>Letter from General Electric Capital Corporation to Registration
dated December 30, 2002 regarding Amendment No. 8 to Amended and Restated Vehicle Installment
Contract Loan and Security Agreement.</p></td>
      </tr>

</table>
<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
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{"company-data": {"conformed-name": "TFC ENTERPRISES INC", "cik": "0000913958", "assigned-sic": "6153", "irs-number": "541306895", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22910", "film-number": "03508070"}, "business-address": {"street1": "5425 ROBINHOOD ROAD SUITE 101A", "city": "NORFOLK", "state": "VA", "zip": "23513", "phone": "8004661222"}}
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of Report: December 30, 2002
(Date of earliest event reported)
TFC ENTERPRISES, INC.
(Exact Name of Registrant as Specified in its
Charter)
Delaware
(State or Other
      Jurisdiction
of Incorporation)
0-22910
(Commission File
      Number)
54-1306895
(IRS Employer
Identification
      No.)
5425 Robin Hood Road, Suite 101B
Norfolk, Virginia
(Address of
      Principal Executive Offices)
23513
(Zip Code)
Registrant's telephone number, including area code:
(757) 858-1400
Item 5.     Other Events and Required FD Disclosure.
Registrant  and General  Electric  Capital  Corporation  ("Lender")  are parties to an Amended and Restated  Motor Vehicle  Installment
Contract Loan and Security  Agreement  dated March 31, 2001, as amended by Amendment No. 1 dated June 27, 2001, as amended by Amendment
No. 2 dated  November 29,  2001,  as amended by Amendment  No. 3 dated March 12, 2002,  as amended by Amendment  No. 4 dated August 30,
2002,  as amended by Amendment  No. 5 dated  October 7, 2002,  as amended by  Amendment  No. 6 dated  October 18,  2002,  as amended by
Amendment No. 7 dated November 27, 2002 (as so amended,  the  "Agreement").  On December 30, 2002,  Registrant  and Lender  executed an
Amendment  No.  8 to the  Agreement  ("Amendment  No.  8").  Amendment  No. 8  reduces  Registrant's  advance  rate  used to  determine
availability  on its line of credit and prorates  Registrant's  line fee on a monthly basis.  Registrant and Lender have agreed that if
Registrant pays its  indebtedness  under its line of credit with Lender in full before  February 1, 2003,  Lender will waive its rights
to acquire Registrant common stock pursuant to certain warrants previously provided by Registrant to Lender.
Item 7.     Financial Statements,
Pro Forma
Financial
Information and Exhibits.
(c)     Exhibits.
Exhibit No.
Description
10.1
Amendment No. 8 to Amended and Restated
          Vehicle Installment Contract Loan and Security Agreement between
          Registrant and General Electric Capital Corporation dated December 30,
          2002.
99.1
Letter from General Electric Capital Corporation to Registration
dated December 30, 2002 regarding Amendment No. 8 to Amended and Restated Vehicle Installment
Contract Loan and Security Agreement.
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
TFC ENTERPRISES, INC.
Dated:   January 8, 2003                                  
By:
/s/ Robert S. Raley, Jr.
Robert S. Raley, Jr.
President and Chief Executive Officer
INDEX TO EXHIBITS
No.
Description
10.1
Amendment No. 8 to Amended and Restated Vehicle
      Installment Contract Loan and Security Agreement between Registrant and
      General Electric Capital Corporation dated December 30, 2002.
99.1
Letter from General Electric Capital Corporation to Registration
dated December 30, 2002 regarding Amendment No. 8 to Amended and Restated Vehicle Installment
Contract Loan and Security Agreement.