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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000897069-06-000173.txt : 20060125
<SEC-HEADER>0000897069-06-000173.hdr.sgml : 20060125
<ACCEPTANCE-DATETIME>20060125183722
ACCESSION NUMBER:		0000897069-06-000173
CONFORMED SUBMISSION TYPE:	5/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050331
FILED AS OF DATE:		20060125
DATE AS OF CHANGE:		20060125

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NICHOLAS FINANCIAL INC
		CENTRAL INDEX KEY:			0001000045
		STANDARD INDUSTRIAL CLASSIFICATION:	SHORT-TERM BUSINESS CREDIT INSTITUTIONS [6153]
		IRS NUMBER:				593019317
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		2454 MCMILLEN BOOTH RD
		STREET 2:		BLDG C 501 B
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33759
		BUSINESS PHONE:		8137260763

	MAIL ADDRESS:	
		STREET 1:		2454 MCMULLEN BOOTH RD
		STREET 2:		BLDG C SUITE 501B
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33759

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GRENMA INC
		CENTRAL INDEX KEY:			0001283412

	FILING VALUES:
		FORM TYPE:		5/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26680
		FILM NUMBER:		06550746

	BUSINESS ADDRESS:	
		STREET 1:		4034 & 4035 CHRISTIANSTED
		CITY:			ST CROIX
		STATE:			VI
		ZIP:			00820
		BUSINESS PHONE:		9065803910

	MAIL ADDRESS:	
		STREET 1:		STONEHOUSE RD
		STREET 2:		PO BOX 367
		CITY:			MILLINGTON
		STATE:			NJ
		ZIP:			07946
</SEC-HEADER>
<DOCUMENT>
<TYPE>5/A
<SEQUENCE>1
<FILENAME>cmw1940_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5/A</documentType>

    <periodOfReport>2005-03-31</periodOfReport>

    <dateOfOriginalSubmission>2005-05-10</dateOfOriginalSubmission>

    <notSubjectToSection16>1</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001000045</issuerCik>
        <issuerName>NICHOLAS FINANCIAL INC</issuerName>
        <issuerTradingSymbol>NICK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001283412</rptOwnerCik>
            <rptOwnerName>GRENMA INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4034 &amp; 4035 CHRISTIANSTED</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ST CROIX</rptOwnerCity>
            <rptOwnerState>VI</rptOwnerState>
            <rptOwnerZipCode>00820</rptOwnerZipCode>
            <rptOwnerStateDescription>VIRGIN ISLANDS, U.S.</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>114666</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The original Form 5 filed on May 10, 2005, noted that on December 30, 2004, Grenma, Inc. transferred by gift 114,666 shares
 of Common Stock to a charitable trust. This statement was incorrect.  On December 30, 2004, Ingrid T. Mahan, the sole
 shareholder of Grenma, Inc., transferred all of the outstanding equity of Grenma, Inc. to a charitable trust, of which she
 is the donor and one of three trustees.  At the time of such transfer, Grenma, Inc. was the owner of 114,666 shares of
 Common Stock (based on pre-split numbers).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Marvin H. Mahan, President</signatureName>
        <signatureDate>2006-01-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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