Le Lézard
Classified in: Business

Mill City Ventures secures $5M revolving credit facility


MINNEAPOLIS, Jan. 19, 2022 /PRNewswire/ -- Mill City Ventures III, Ltd. (OTCBB: MCVT), a non-bank lender and specialty finance company, announced today the establishment of a revolving credit facility in the initial amount of $5 million. The facility will allow Mill City Ventures to leverage its current loan portfolio and continue meeting demand for loans.  Management believes the facility will also allow for future earnings increases without equity dilution.

"We are so pleased to have the line of credit with one of our well respected board members who has not only been an invaluable resource for our board but now as a resource for the expansion of our loan book," said Mill City Ventures' Chief Executive Officer Douglas M. Polinsky.

Specific terms of the loan were disclosed publicly in a current report filed with the SEC.

Forward-Looking Statements
Forward-looking statements in this release are made pursuant to the "safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements, including without limitation continued demand for short-term specialty non-bank loans, increased levels of competition, new products or offerings introduced by competitors, changes in the market rates of loans, and other risks.

About Mill City Ventures III, Ltd.
Founded in 2007, Mill City Ventures III, Ltd., is a specialty finance company providing short-term non-bank lending. Additional information can be found at www.sec.gov.

SOURCE Mill City Ventures III, Ltd.


These press releases may also interest you

at 18:18
Atento S.A. , one of the largest providers worldwide and the leading company in customer relationship services and business process outsourcing (CRM / BPO) in Latin America, has appointed Anil Bhalla as independent board director. Mr. Bhalla replaces...

at 17:52
The Wendy's Company today issued the following statement regarding the Schedule 13D/A filed by Trian Fund Management, L.P. and certain of its affiliates with the Securities and Exchange Commission:...

at 17:46
The Government of Canada along with the Government of New Brunswick will be making a housing announcement. Media are invited to join...

at 17:45
Neuberger Berman High Yield Strategies Fund Inc. (the "Fund") announced today the final results of its transferable rights offering (the "Offer"), which expired at 5:00 PM Eastern Time on May 17, 2022 (the "Expiration Date"). ...

at 17:35
Metzger Wickersham law firm is pleased to announce the winners of its 10th annual student scholarship contest. The Road to Safety Scholarship Contest encourages graduating, college-bound high school seniors from Pennsylvania to enter a creative...

at 17:34
Bridgehouse Asset Managers (Bridgehouse), the retail trade name for Brandes Investment Partners & Co., today announces management fee reductions to be effective on or about May 24, 2022 for the Brandes Global Equity Fund and the Brandes U.S. Equity...



News published on 19 january 2022 at 09:15 and distributed by: