Medallion Financial Corp. : Announces Renewal of DZ Bank Credit Facility
Medallion Financial Corp. (Nasdaq: MFIN) announced today that, through a special purpose subsidiary, it has renewed for an additional nine months its credit facility agreement with DZ Bank AG Deutsche Zentral-Genossenschaftsbank (“DZ Bank”) as Agent for the lender, Autobahn Funding Company LLC.
“We are pleased to complete this latest extension of our credit facility, secured by medallion loans, with our partners at DZ Bank and continue to appreciate their ongoing long-term support, as well as that of our other banking partners,” stated Andrew Murstein, President of Medallion Financial.
About Medallion Financial Corp.
Medallion Financial Corp. is a specialty finance company that originates and services loans in various industries, and its wholly-owned portfolio company, Medallion Bank, also originates and services consumer loans. The Company and its subsidiaries have lent approximately $7 billion to small businesses.
Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, costs, sales, net investment income, earnings, and growth. Medallion Financial’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, those factors discussed under the heading “Risk Factors,” in Medallion Financial’s 2016 Annual Report on Form 10-K.