Nicholas Financial reinvested its revenue in corporate training, geographic expansion and technology after direct loan formation reached $ 5.7 million, up 137% year-on-year. Indirect origins were also up 21% year-on-year to $ 20.3 million, according to last week’s earnings report. Clearwater, Florida-based lenders have increased their direct and indirect origins year-over-year over the past two years, including before the COVID-19 pandemic, said Nicholas CEO Doug Malone Auto. I told Finance News. Meanwhile, direct loan balances are currently recorded at $ 15.7 million. […]
https://www.autofinancenews.net/allposts/earnings/nicholas-financial-posts-137-yoy-increase-in-direct-loan-originations-in-fiscal-q1/ Nicholas Financial saw a 137% year-on-year increase in direct loan composition in the first quarter.