Medallion Financial Celebrates Medallion Capital's 25-Year Milestone
17 Outubro 2023 - 8:00AM
Medallion Financial Corp. (NASDAQ: MFIN, “Medallion” or the
“Company”), a specialty finance company that originates and
services loans in various consumer and commercial industries, along
with offering loan origination services to fintech strategic
partners, announced today that its subsidiary, Medallion Capital,
is celebrating the milestone anniversary of its 25th year of
being part of Medallion Financial. Over this time, Medallion
Capital has provided over $400 million of capital to 110 different
companies.
Andrew Murstein, President and COO of
Medallion Financial Corp.
“We are pleased to honor Medallion Capital with
this significant milestone. Over the past 25 years, the acquisition
of Medallion Capital has added to the Company’s performance,
diversification, and returns. This performance has been driven by
Medallion Capital’s underwriting process, its ability to choose the
right companies to fund, and its strong track record of exits on
the equity components it gets with most deals. We are honored to
celebrate this significant milestone in partnership with the
talented team at Medallion Capital.”
Stephen Lewis, President of Medallion
Capital
“Since we started, we have been focused on
helping small businesses thrive. Over this time, we have been able
to steadily grow our business prudently and deliver strong bottom
line performance. For a quarter of a century, we have been
emboldened by working with our borrowers to help them grow,
diversify, or transition some very remarkable businesses. Working
with a parent that is as strong and stable as MFIN, gives us an
advantage and provides us with a powerful platform to execute our
growth strategy going forward.”
Medallion Capital is a Small Business
Investment Company (“SBIC”), which offers creative, flexible, and
timely senior subordinated or mezzanine debt solutions nationwide,
primarily for ownership transitions. Average investments are
approximately $3 million, serving middle market companies.
Originally part of Control Data Corporation, the fund was purchased
in 1987 by a group of investors, some of whom are still involved
with the fund today. Shortly after, the company was renamed Capital
Dimensions and operated as a Specialized Small Business Investment
company (“SSBIC”), providing mezzanine financing to socially
disadvantaged business owners. In 1998, the company was acquired by
MFIN. and converted to an SBIC, enabling the company to make larger
investments and expand the pool of borrowers it targets.
About Medallion Financial Corp.
Medallion Financial Corp. (NASDAQ:MFIN) and its
subsidiaries originate and service a growing portfolio of consumer
loans and mezzanine loans in various industries. Key industries
served include recreation (towable RVs and marine) and home
improvement (replacement roofs, swimming pools, and windows).
Medallion Financial Corp. is headquartered in New York City, NY,
and its largest subsidiary, Medallion Bank, is headquartered in
Salt Lake City, Utah. For more information, please visit
www.medallion.com.
Forward-Looking
StatementsPlease note that this press release contains
forward-looking statements that involve risks and uncertainties
relating to business performance, cash flow, net interest income
and expenses, other expenses, earnings, growth, and our growth
strategy. These statements are often, but not always, made using
words or phrases such as “will” and “continue” or the negative
version of those words or other comparable words or phrases of a
future or forward-looking nature. These statements relate to future
public announcements of our earnings, the impact of the pending SEC
litigation, expectations regarding our loan portfolio, including
collections on our medallion loans, the potential for future asset
growth, and market share opportunities. Medallion’s actual results
may differ significantly from the results discussed in such
forward-looking statements. For example, statements about the
effects of the current economy, whether inflation or the risk of
recession, operations, financial performance and prospects
constitute forward-looking statements and are subject to the risk
that the actual impacts may differ, possibly materially, from what
is reflected in those forward-looking statements due to factors and
future developments that are uncertain, unpredictable and in many
cases beyond Medallion’s control. In addition to risks
relating to the current economy, for a description of certain risks
to which Medallion is or may be subject, including risks related to
the pending SEC litigation, please refer to the factors discussed
under the heading “Risk Factors” in Medallion’s 2022 Annual Report
on Form 10-K.
Company Contact:Investor
Relations212-328-2176InvestorRelations@medallion.com
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