Mill City Ventures III, Ltd. Advances $1.15 Million To Award-winning Senior Care Provider
Mill City Ventures III, (NASDAQ:MCVT), a non-bank lender and specialty finance company, has announced its entry into the senior care industry with a $1.15 million short-term loan for two senior care development projects. CEO Douglas M. Polinsky highlighted the company's streamlined underwriting process, which enabled them to meet the closing deadline for this promising project. The funding aligns with Mill City's goal of achieving returns exceeding 20% on an annualized basis.
The company has observed an increase in funding opportunities since early 2024 and continues to pursue transactions in various sectors, including adjudicated insurance settlements, asset-based loans, and real estate backed loans.
Mill City Ventures III, (NASDAQ:MCVT), un lender non bancario e società di finanziamento specializzato, ha annunciato il suo ingresso nel settore dell'assistenza per anziani con un prestito a breve termine di 1,15 milioni di dollari per due progetti di sviluppo nell'assistenza anziani. Il CEO Douglas M. Polinsky ha evidenziato il processo di sottoscrizione semplificato dell'azienda, che ha permesso di rispettare la scadenza per la chiusura di questo promettente progetto. Il finanziamento è in linea con l'obiettivo di Mill City di ottenere rendimenti superiori al 20% su base annua.
L'azienda ha osservato un aumento delle opportunità di finanziamento dall'inizio del 2024 e continua a cercare transazioni in vari settori, tra cui accordi assicurativi giudicati, prestiti basati su asset e prestiti garantiti da immobili.
Mill City Ventures III, (NASDAQ:MCVT), un prestamista no bancario y empresa de financiamiento especializado, ha anunciado su entrada en la industria del cuidado de personas mayores con un préstamo a corto plazo de 1.15 millones de dólares para dos proyectos de desarrollo en el cuidado de ancianos. El CEO Douglas M. Polinsky destacó el proceso de suscripción simplificado de la empresa, que les permitió cumplir con la fecha límite de cierre para este prometedor proyecto. La financiación está alineada con el objetivo de Mill City de lograr rendimientos superiores al 20% de forma anual.
La empresa ha observado un aumento en las oportunidades de financiamiento desde principios de 2024 y continúa buscando transacciones en varios sectores, incluyendo acuerdos de seguros adjudicados, préstamos respaldados por activos y préstamos garantizados por bienes raíces.
Mill City Ventures III, (NASDAQ:MCVT), 비은행 대출 및 전문 금융 회사로, 두 개의 노인 돌봄 개발 프로젝트를 위한 115만 달러 단기 대출로 노인 돌봄 산업에 진입한다고 발표했습니다. CEO 더글라스 M. 폴린스키는 이 유망한 프로젝트의 마감 기한을 맞출 수 있도록 준수한 간소화된 언더라이팅 프로세스를 강조했습니다. 이 자금 지원은 연 20% 이상의 수익률을 목표로 하는 Mill City의 목표와 일치합니다.
회사는 2024년 초부터 자금 지원 기회의 증가가 관찰되었다고 하며, 판결 보험 합의, 자산 기반 대출 및 부동산 담보 대출 등 다양한 분야의 거래를 계속 추구하고 있습니다.
Mill City Ventures III, (NASDAQ:MCVT), un prêteur non bancaire et entreprise de financement spécialisé, a annoncé son entrée dans l'industrie des soins pour personnes âgées avec un prêt à court terme de 1,15 million de dollars pour deux projets de développement de soins aux personnes âgées. Le PDG Douglas M. Polinsky a souligné le processus d'approbation simplifié de l'entreprise, qui leur a permis de respecter la date limite de clôture pour ce projet prometteur. Le financement est en phase avec l'objectif de Mill City d'obtenir des rendements supérieurs à 20 % sur une base annuelle.
L'entreprise a observé une augmentation des opportunités de financement depuis le début de 2024 et continue de rechercher des transactions dans divers secteurs, notamment des règlements d'assurance adjudicatifs, des prêts garantis par des actifs et des prêts garantis par des biens immobiliers.
Mill City Ventures III, (NASDAQ:MCVT), ein nicht-banken Kreditgeber und spezialisiertes Finanzunternehmen, hat seinen Einstieg in die Seniorenpflegebranche mit einem 1,15 Millionen Dollar kurzfristigen Darlehen für zwei Entwicklungsprojekte im Seniorenbereich angekündigt. CEO Douglas M. Polinsky hob den vereinfachten Underwriting-Prozess des Unternehmens hervor, der es ihnen ermöglichte, die Abschlussfrist für dieses vielversprechende Projekt einzuhalten. Die Finanzierung entspricht dem Ziel von Mill City, Renditen von über 20 % auf Jahresbasis zu erzielen.
Das Unternehmen hat seit Anfang 2024 einen Anstieg der Finanzierungsmöglichkeiten beobachtet und verfolgt weiterhin Transaktionen in verschiedenen Sektoren, darunter adjudizierte Versicherungsabrechnungen, assetbasierte Darlehen und durch Immobilien gedeckte Kredite.
- Expansion into the growing senior care industry
- Successful funding of a $1.15 million short-term loan
- Streamlined underwriting process enabling quick project involvement
- Goal of obtaining returns exceeding 20% annualized
- Increased demand for funding opportunities in 2024
- None.
Insights
Mill City Ventures III's
The senior care industry is experiencing rapid growth due to demographic shifts, presenting significant opportunities for investors. Mill City's entry into this sector is timely and could position them well for future growth. The company's focus on short-term loans in various sectors, including insurance settlements and real estate, indicates a diversified approach that could help mitigate risks. However, the specialty finance market can be volatile, especially in changing economic conditions. Investors should watch for:
- The performance of these senior care projects
- Mill City's ability to maintain high returns across different sectors
- Any regulatory changes affecting non-bank lenders
MINNEAPOLIS, MN / ACCESSWIRE / September 13, 2024 / Mill City Ventures III, Ltd. ("Mill City") (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced today its funding of a
"This investment represents our first foray into the fast growing senior, memory and respite care industry," stated Mill City CEO Douglas M. Polinsky. He added "Our streamlined underwriting process allowed us to get involved in this transaction late in the game and still meet the closing deadline for this promising and much needed project. The funding also allows us to continue meeting our goal of obtaining returns exceeding
Mill City has seen an increase in demand of funding opportunities since the beginning of 2024, and continues to pursue transaction opportunities in adjudicated insurance settlements, asset-based loans, real estate backed loans, as well as other investment opportunities.
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, the company's ability to continue growing its investment portfolio while receiving attractive returns, 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 short-term non-bank lending and specialty finance company. More information about the company can be obtained at www.sec.gov.
CONTACT:
Joseph A. Geraci
Chief Financial Officer
jg@millcityventures3.com
952-479-1920
SOURCE: Mill City Ventures III, Ltd.
View the original press release on accesswire.com
FAQ
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