<PAGE> 1
                                
         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) December 23,
                              1997
                                
                                
                                
                     NICHOLAS FINANCIAL, INC.
      (Exact name of registrant as specified in its Charter)




     British Columbia, Canada          333-08407         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)



                           (813) 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> 2
                                
                                
Item 5.   Other Events

     Effective  December 23,  1997,  the Company's common stock was
approved to be listed  on the NASDAQ Small Cap System and commenced
trading on December 29, 1997, under the symbol NICKF.

     On December 23, 1997,  the  registrant issued  a press release
announcing the  approval, a  copy of  which is attached  as exhibit
99.1 to this Form 8-K and incorporated herein by reference.



Item 7. Financial Statements and Exhibits 

    (c) Exhibits

        Exhibit No.      Description of Document
        -----------      ---------------------------------

           99.1          Press release dated December 23,
                         1997 issued by the registrant

<PAGE> 3
                           SIGNATURES

   In  accordance with the requirements of the Securities Act  of
1934, the Registrant certifies that it has reasonable grounds  to
believe that it meets all of the requirements for filing on  Form
8-K  and authorized this Report to be signed on its behalf by the
undersigned,  in  the City of Clearwater, State  of  Florida,  on
December 30, 1997.

                                
                    NICHOLAS FINANCIAL, INC.
                          (Registrant)


  Date: December 30, 1997       /s/ Peter L. Vosotas
                                Peter L. Vosotas
                                Chairman, President, 
                                Chief Executive Officer
                                (Principal Executive Officer)


  Date: December 30, 1997       /s/ Ralph T. Finkenbrink
                                Ralph T. Finkenbrink
                                (Principal Financial Officer
                                and Accounting Officer)


<PAGE> 4

                           Exhibit 99.1
                     Registrant's Press Release 

-------------------------------------------------------------------

                                            FOR IMMEDIATE RELEASE
Nicholas Financial, Inc.
Corporate Headquarters

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

               Date:    December 23, 1997          Nasdaq: NICKF
               Contact: Ralph Finkenbrink          VSE   : NIC.U
                        Vice President, Finance
                        Nicholas Financial, Inc
                        Ph # - 813-726-0763
                        fax # - 813-726-2140
                        web site: www.nicfn.com



                                
           NICHOLAS FINANCIAL RECEIVES NASDAQ APPROVAL
                   THE STOCK SYMBOL IS: NICKF
                                
                                
Clearwater,  Florida,  - December 23, 1997:  Nicholas  Financial,
Inc.  is pleased to report that it has received approval to  have
its  common  stock  listed on the NASDAQ Small  Cap  System.  The
company  has been listed on the NASD Bulletin Board for the  past
two  (2)  years. It is anticipated that the stock  will  commence
trading on Monday, December 29, 1997 under the symbol NICKF.

According to Peter L. Vosotas, Chairman & President, "We are very
happy  to be admitted to this most prestigious exchange.  It  has
been  our  goal for the past few years, and we have achieved  it.
What   a  great  Christmas  present!  We  believe  that  NASDAQ's
worldwide  visibility will provide a greater public audience  for
our  shares to be evaluated, and this in turn should increase our
share liquidity."

The  company is pleased to announce that it has opened  a  branch
office in Marietta, Georgia in November. This brings the total to
three (3) branch  offices in Georgia. The company operates eleven
(11)  branch  offices in Florida, bringing the  total  number  of
branch locations to fourteen (14).

-----------------------------------------------------------------
Nicholas  Financial,  Inc.  is a consumer  finance  company  that
provides funding for pre-owned automobiles and light trucks.  Its
software   subsidiary,  Nicholas  Data  Services,  Inc.  designs,
develops,  supports and sells computer software to a  variety  of
small businesses.
-----------------------------------------------------------------

                           ### end ###
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 5822}]
{"company-data": {"conformed-name": "NICHOLAS FINANCIAL INC", "cik": "0001000045", "assigned-sic": "6153", "irs-number": "87363354", "state-of-incorporation": "FL", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26680", "film-number": "97746777"}, "business-address": {"street1": "2454 MCMILLEN BOOTH RD", "street2": "BLDG C", "city": "CLEARWATER", "state": "FL", "zip": "34619", "phone": "8137260763"}, "mail-address": {"street1": "2454 MCMULLEN BOOTH RD", "street2": "BLDG C SUITE 501B", "city": "CLEARWATER", "state": "FL", "zip": "34619"}}
1
                                
         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) December 23,
                              1997
                                
                                
                                
                     NICHOLAS FINANCIAL, INC.
      (Exact name of registrant as specified in its Charter)

     British Columbia, Canada          333-08407         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)

                           (813) 726-0763
        (Registrant's telephone number, Including area code)
                                
                                
                           Not applicable
  (Former name, former address and former fiscal year, if changed
                         since last report)
2
                                
                                
Item 5.   Other Events

     Effective  December 23,  1997,  the Company's common stock was
approved to be listed  on the NASDAQ Small Cap System and commenced
trading on December 29, 1997, under the symbol NICKF.

     On December 23, 1997,  the  registrant issued  a press release
announcing the  approval, a  copy of  which is attached  as exhibit
99.1 to this Form 8-K and incorporated herein by reference.

Item 7. Financial Statements and Exhibits 

    (c) Exhibits

        Exhibit No.      Description of Document
        -----------      ---------------------------------

           99.1          Press release dated December 23,
                         1997 issued by the registrant
3
                           SIGNATURES

   In  accordance with the requirements of the Securities Act  of
1934, the Registrant certifies that it has reasonable grounds  to
believe that it meets all of the requirements for filing on  Form
8-K  and authorized this Report to be signed on its behalf by the
undersigned,  in  the City of Clearwater, State  of  Florida,  on
December 30, 1997.

                                
                    NICHOLAS FINANCIAL, INC.
                          (Registrant)

  Date: December 30, 1997       /s/ Peter L. Vosotas
                                Peter L. Vosotas
                                Chairman, President, 
                                Chief Executive Officer
                                (Principal Executive Officer)

  Date: December 30, 1997       /s/ Ralph T. Finkenbrink
                                Ralph T. Finkenbrink
                                (Principal Financial Officer
                                and Accounting Officer)
4

                           Exhibit 99.1
                     Registrant's Press Release 

-------------------------------------------------------------------

                                            FOR IMMEDIATE RELEASE
Nicholas Financial, Inc.
Corporate Headquarters

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

               Date:    December 23, 1997          Nasdaq: NICKF
               Contact: Ralph Finkenbrink          VSE   : NIC.U
                        Vice President, Finance
                        Nicholas Financial, Inc
                        Ph # - 813-726-0763
                        fax # - 813-726-2140
                        web site: www.nicfn.com

                                
           NICHOLAS FINANCIAL RECEIVES NASDAQ APPROVAL
                   THE STOCK SYMBOL IS: NICKF
                                
                                
Clearwater,  Florida,  - December 23, 1997:  Nicholas  Financial,
Inc.  is pleased to report that it has received approval to  have
its  common  stock  listed on the NASDAQ Small  Cap  System.  The
company  has been listed on the NASD Bulletin Board for the  past
two  (2)  years. It is anticipated that the stock  will  commence
trading on Monday, December 29, 1997 under the symbol NICKF.

According to Peter L. Vosotas, Chairman & President, "We are very
happy  to be admitted to this most prestigious exchange.  It  has
been  our  goal for the past few years, and we have achieved  it.
What   a  great  Christmas  present!  We  believe  that  NASDAQ's
worldwide  visibility will provide a greater public audience  for
our  shares to be evaluated, and this in turn should increase our
share liquidity."

The  company is pleased to announce that it has opened  a  branch
office in Marietta, Georgia in November. This brings the total to
three (3) branch  offices in Georgia. The company operates eleven
(11)  branch  offices in Florida, bringing the  total  number  of
branch locations to fourteen (14).

-----------------------------------------------------------------
Nicholas  Financial,  Inc.  is a consumer  finance  company  that
provides funding for pre-owned automobiles and light trucks.  Its
software   subsidiary,  Nicholas  Data  Services,  Inc.  designs,
develops,  supports and sells computer software to a  variety  of
small businesses.
-----------------------------------------------------------------

                           ### end ###