Medallion Capital gets SBA commitment for $18.5M in debentures

MEDALLION FINANCIAL CORP

SBA committed $18.5M in debenture leverage to Medallion Capital (MFIN subsidiary).
Leverage fee: $185K paid upfront; $370K deducted pro rata on draws.
Draws allowed in whole or part until September 30, 2028.
Commitment subject to SBA creditworthiness and compliance with 13 CFR Part 107.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MEDALLION FINANCIAL CORP entered into Commitment with Small Business Administration valued at $18,500,000 (effective 2024-02-28).

Action: entry
Agreement: credit facility
Counterparty: Small Business Administration
Value: $18,500,000
Effective: 2024-02-28

Exact text from the filing

On February 28, 2024, the Small Business Administration committed to reserve leverage in the form of debentures in an amount equal to $18,500,000 (the “Commitment”) to Medallion Capital, Inc.

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Source: SEC EDGAR

accession 0000950170-24-023132

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