<PAGE>
[BANK OF AMERICA LOGO]                                          EXHIBIT 10(J)(2)



                        AMENDMENT NO. 3 TO LOAN AGREEMENT


        This Amendment No. 3 (the "Amendment") dated as of April 30, 2002, is
among Bank of America, N.A. (the "Bank"), Ashworth, Inc. ("Ashworth"), Ashworth
Store I, Inc. ("Ashworth Store I"), Ashworth Store II, Inc. ("Ashworth Store
II"), Ashworth International, Inc. ("Ashworth International"), and Ashworth
U.K., Ltd. ("Ashworth UK") (Ashworth, Ashworth Store I, Ashworth Store II,
Ashworth International, and Ashworth UK are sometimes referred to collectively
as the "Borrowers" and individually as the "Borrower").

                                    RECITALS

        A. The Bank and the Borrowers entered into a certain Business Loan
Agreement dated as of June 1, 2000 (together with any previous amendments, the
"Agreement").

        B. The Bank and the Borrowers desire to amend the Agreement.

                                    AGREEMENT

        1. Definitions. Capitalized terms used but not defined in this Amendment
shall have the meaning given to them in the Agreement.

        2. Amendments. The Agreement is hereby amended as follows:

          2.1    Subparagraph 1.1(a) of the Agreement is amended to read in its
                 entirety as follows:

                 "(a)  During the availability period described below, the Bank
                       will provide a line of credit (`Facility No. 1') to the
                       Borrowers.  The amount of the line of credit (the
                       `Facility No. 1 Commitment') is equal to the amount
                       indicated for each period specified below:

<TABLE>
<CAPTION>
                             Period                                     Amount
                             ------                                     ------
                             <S>                                        <C>
                             From the date hereof
                             through July 1, 2002                       $35,000,000

                             From July 2, 2002
                             through January 31, 2003                   $25,000,000

                             From February 1, 2003
                             through the Facility No. 1 Expiration Date $35,000,000."
</TABLE>

          2.2    In Paragraph 1.2 of the Agreement, the date "March 1, 2003" is
                 substituted for the date "May 1, 2002."

          2.3    Subparagraph 1.6(a)(iii) of the Agreement is deleted in its
                 entirety.

          2.4    In Subparagraph 2.1(a) of the Agreement, the date "March 1,
                 2003" is substituted for the date "November 1, 2002."


                                       1
<PAGE>


          2.5    In Subparagraph 4.1(a) of the Agreement, the date "March 1,
                 2003" is substituted for the date "May 1, 2002."

          2.6    Subparagraph 8.2(c) of the Agreement is amended to read in its
                 entirety as follows:

                 "(c)  Within 60 days of Ashworth's fiscal year end, the
                       Borrowers' annual projections (detailed
                       quarter-to-quarter) on a consolidated basis."

          2.7    Paragraphs 8.3, 8.4, and 8.5 of the Agreement are amended to
                 read in their entirety as follows:

                 "8.3  QUICK RATIO.  To maintain on a consolidated basis a ratio
                 of quick assets to current liabilities of at least the amounts
                 indicated for each period specified below:

<TABLE>
<CAPTION>
                            Period                                      Ratio
                            ------                                      -----
                            <S>                                         <C>
                            From January 31, 2002
                            through July 30, 2002                       .90:1.0

                            From July 31, 2002
                            through January 30, 2003                    1.20:1.0

                            From January 31, 2003
                            and thereafter                              .90:1.0
</TABLE>

                 `Quick assets' means cash, short-term cash investments in
                 non-affiliated entities, net trade receivables and marketable
                 securities not classified as long-term investments. "Current
                 liabilities" shall include (a) all obligations classified as
                 current liabilities under generally accepted accounting
                 principles, plus (b) all principal amounts outstanding under
                 revolving lines of credit plus the outstanding amounts of any
                 letters of credit, including amounts drawn on letters of credit
                 and not yet reimbursed, whether classified as current or
                 long-term, which are not already included under (a) above.

                 8.4  TANGIBLE NET WORTH.  To maintain on a consolidated basis
                 tangible net worth equal to at least the sum of the following:

                 (a)   Sixty Nine Million Five Hundred Thousand Dollars
                       ($69,500,000); plus

                 (b)   the sum of 50% of net income after income taxes (without
                       subtracting losses) earned in each quarterly accounting
                       period commencing with quarter ended April 30, 2002; plus

                 (c)   100% of equity issuance measured quarter to date each
                       fiscal quarter.

                 `Tangible net worth' means the gross book value of the
                 Borrowers' assets (excluding goodwill, patents, trademarks,
                 trade names, organization expense, treasury stock, unamortized
                 debt discount and expense, capitalized or deferred research and
                 development costs, deferred marketing expenses, deferred
                 receivables, and other like intangibles) including but not
                 limited to accrued and deferred income taxes, and any reserves
                 against assets.


                                       2
<PAGE>


                 8.5 EBITDA. To maintain on a consolidated basis EBITDA of at
                 least Four Million Seven Hundred Fifty Thousand Dollars
                 ($4,750,000) between the date hereof and October 30, 2002, and
                 Ten Million Dollars ($10,000,000) thereafter.

                 `EBITDA' means the sum of net income before taxes, plus
                 interest expense, plus depreciation, depletion, amortization
                 and other non-cash charges. This covenant will be calculated at
                 the end of each fiscal quarter, using the results of that
                 quarter and each of the 3 immediately preceding quarters."

          2.8    Subparagraph 8.6(f) of the Agreement is deleted in its
                 entirety.

          2.9    Subparagraph 8.7(e) of the Agreement is deleted in its
                 entirety.

          2.10   Paragraph 8.11 is amended to read in its entirety as follows:

                 "8.11 OUT OF DEBT PERIOD. Reduce the amount of advances under
                 the Facility No. 1 to not more than Five Million Dollars
                 ($5,000,000) for a period of at least 30 consecutive days
                 during each fiscal year of Ashworth. For the purposes of this
                 paragraph, `advances' does not include undrawn amounts of
                 outstanding letters of credit."

          2.11   The first sentence of Subparagraph 11.4(d) is amended to read
                 as follows:

                 "The arbitration shall be administered by J.A.M.S. and
                 conducted in any U.S. state where real or tangible personal
                 property collateral for this credit is located or if there is
                 no such collateral, in California."

        3. Representations and Warranties. When the Borrowers sign this
Amendment, each Borrower represents and warrants to the Bank that: (a) there is
no event which is, or with notice or lapse of time or both would be, a default
under the Agreement except those events, if any, that have been disclosed in
writing to the Bank or waived in writing by the Bank, (b) the representations
and warranties in the Agreement are true as of the date of this Amendment as if
made on the date of this Amendment, (c) this Amendment does not conflict with
any law, agreement, or obligation by which any Borrower is bound, and (d) this
Amendment is within each Borrower's powers, has been duly authorized, and does
not conflict with any of its organizational papers.

        4. Fee. Concurrently with the execution of this Amendment, the Borrowers
will pay a documentation fee of Five Thousand Dollars ($5,000).

        5. Effect of Amendment. Except as provided in this Amendment, all of the
terms and conditions of the Agreement shall remain in full force and effect.

        6. Counterparts. This Amendment may be executed in counterparts, each of
which when so executed shall be deemed an original, but all such counterparts
together shall constitute but one and the same instrument.


        7. FINAL AGREEMENT. THIS WRITTEN AMENDMENT REPRESENTS THE FINAL
AGREEMENT BETWEEN AND AMONG THE PARTIES HERETO AND MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN OR
AMONG THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE
PARTIES.


                                       3
<PAGE>


        This Amendment is executed as of the date stated at the beginning of
this Amendment.


                                            BANK OF AMERICA, N.A.

                                            By /s/ Susan J. Pepping
                                               Susan J. Pepping, Senior Vice
                                               President


                                            ASHWORTH, INC.

                                            By /s/ Terence W. Tsang
                                            Typed Name    Terence W. Tsang
                                            Title  EVP, COO and CFO


                                            ASHWORTH STORE I, INC.

                                            By /s/ Terence W. Tsang
                                            Typed Name    Terence W. Tsang
                                            Title  EVP, COO and CFO


                                            ASHWORTH STORE II, INC.

                                            By /s/ Terence W. Tsang
                                            Typed Name    Terence W. Tsang
                                            Title  EVP, COO and CFO

                                            ASHWORTH U.K., LTD.

                                            By /s/ Terence W. Tsang
                                            Typed Name    Terence W. Tsang
                                            Title  EVP, COO and CFO

                                            ASHWORTH INTERNATIONAL, INC.

                                            By /s/ Terence W. Tsang
                                            Typed Name    Terence W. Tsang
                                            Title  EVP, COO and CFO


                                       4