Mill City finances $1.25M secured loan
Mill City Ventures III, Ltd. (MCVT) has successfully completed a secured loan of $1.25 million. This asset-backed loan is collateralized by an aviation aircraft, showcasing an attractive appraised value-to-loan ratio. CEO Douglas M. Polinsky emphasized the rapid execution of the loan process and highlighted the company's ability to source diversified loans with varying risk levels, aiming to deliver substantial returns to investors. Specific loan terms were not disclosed, and the company remains focused on the evolving demand for specialty non-bank loans.
- Completed a secured loan of $1.25 million.
- Loan is collateralized by an aviation aircraft, suggesting strong asset backing.
- Specific terms of the loan were not disclosed, which may raise concerns about transparency.
MINNEAPOLIS, Oct. 1, 2021 /PRNewswire/ -- Mill City Ventures III, Ltd. ("Mill City") (OTCQB: MCVT) announced today its completion of the financing of a
"We completed the loan request in a very compressed amount of time. The loan is collateralized by an aviation aircraft and our loan to appraised value is very attractive as are the returns for this short term loan," commented Chief Executive Officer Douglas M. Polinsky. "We hope this loan continues to evidence to our investors how we are able to source diversified loans with varying degrees of risk while always being attentive in providing outsized returns relative to the risk."
Specific terms of the loan were not disclosed.
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.
View original content:https://www.prnewswire.com/news-releases/mill-city-finances-1-25m-secured-loan-301389856.html
SOURCE Mill City Ventures III, Ltd.
FAQ
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