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) September
                          13, 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 8.01   Other Events

SEPTEMBER 13, 2005 - Clearwater, Florida., - Nicholas
Financial, Inc. (Nasdaq, NICK) today announced that the
Company has executed an amendment to its $85 million credit
line that reduces the interest rate charged to the Company
by 37.5 basis points (.375%) and extends the maturity date
of the facility to November 30, 2008.  The amendment becomes
effective September 15, 2005.



Item 9.01      Financial Statements and Exhibits

Exhibit #      Description

32        Press release date September 13, 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: September 13, 2005      /s/ Peter L. Vosotas
                                Peter L. Vosotas
                                Chairman, President,
                                Chief Executive Officer
                                (Principal Executive Officer)


  Date: September 13, 2005      /s/ Ralph T. Finkenbrink
                                Ralph T. Finkenbrink
                               (Principal Financial
                                Officer and Accounting
                                Officer)

<PAGE> 3

Exhibit Index

Exhibit     Description

 32      Press release dated September 13, 2005.
                         Exhibit 32


<PAGE> 4



                                         FOR IMMEDIATE RELEASE

Nicholas Financial, Inc.
Corporate Headquarters

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


Contact: Ralph Finkenbrink
      Sr.Vice President, CFO

NASDAQ: NICK
Web Site: www.nicholasfinancial.com
Ph # - 727-726-0763



                Nicholas Financial Announces
           Credit Line Extension & Rate Reduction


SEPTEMBER  13,  2005  -  Clearwater,  Florida.,  -  Nicholas
Financial,  Inc.  (Nasdaq, NICK) today  announced  that  the
Company has executed an amendment to its $85 million  credit
line  that reduces the interest rate charged to the  Company
by  37.5 basis points (.375%) and extends the maturity  date
of the facility to November 30, 2008.  The amendment becomes
effective September 15, 2005.

According  to  Peter  Vosotas, Chief Executive  Officer  and
President, "The extension of the credit line will  allow  us
to  continue  our planned growth for the next three  years."
Mr. Vosotas also stated, "The Company is pleased to continue
its  lending relationship with Bank of America, which  began
in  March  of  1993 and also includes Hibernia  Bank,  First
Tennessee  Bank,  and  Bank  of  Scotland  as  participating
banks."


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 37
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

                          ## End ##
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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) September
                          13, 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 8.01   Other Events

SEPTEMBER 13, 2005 - Clearwater, Florida., - Nicholas
Financial, Inc. (Nasdaq, NICK) today announced that the
Company has executed an amendment to its $85 million credit
line that reduces the interest rate charged to the Company
by 37.5 basis points (.375%) and extends the maturity date
of the facility to November 30, 2008.  The amendment becomes
effective September 15, 2005.

Item 9.01      Financial Statements and Exhibits

Exhibit #      Description

32        Press release date September 13, 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: September 13, 2005      /s/ Peter L. Vosotas
                                Peter L. Vosotas
                                Chairman, President,
                                Chief Executive Officer
                                (Principal Executive Officer)

  Date: September 13, 2005      /s/ Ralph T. Finkenbrink
                                Ralph T. Finkenbrink
                               (Principal Financial
                                Officer and Accounting
                                Officer)
3

Exhibit Index

Exhibit     Description

 32      Press release dated September 13, 2005.
                         Exhibit 32
4

                                         FOR IMMEDIATE RELEASE

Nicholas Financial, Inc.
Corporate Headquarters

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

Contact: Ralph Finkenbrink
      Sr.Vice President, CFO

NASDAQ: NICK
Web Site: www.nicholasfinancial.com
Ph # - 727-726-0763

                Nicholas Financial Announces
           Credit Line Extension & Rate Reduction

SEPTEMBER  13,  2005  -  Clearwater,  Florida.,  -  Nicholas
Financial,  Inc.  (Nasdaq, NICK) today  announced  that  the
Company has executed an amendment to its $85 million  credit
line  that reduces the interest rate charged to the  Company
by  37.5 basis points (.375%) and extends the maturity  date
of the facility to November 30, 2008.  The amendment becomes
effective September 15, 2005.

According  to  Peter  Vosotas, Chief Executive  Officer  and
President, "The extension of the credit line will  allow  us
to  continue  our planned growth for the next three  years."
Mr. Vosotas also stated, "The Company is pleased to continue
its  lending relationship with Bank of America, which  began
in  March  of  1993 and also includes Hibernia  Bank,  First
Tennessee  Bank,  and  Bank  of  Scotland  as  participating
banks."

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 37
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

                          ## End ##