Mill City Ventures III, Ltd. Advances $2 Million To Award-Winning Holiday Light Maze Experience
Mill City Ventures III, (NASDAQ:MCVT), a non-bank lender and specialty finance company, has announced a $2 million short-term loan to Enchant Christmas, . The funding will facilitate three holiday attractions in Las Vegas, San Jose, and Seattle.
CEO Douglas Polinsky highlighted Enchant Christmas as North America's premier holiday festival, noting that it generated $54 million in revenue over a six-week period last holiday season. This loan reflects the growing demand for short-term funding that Mill City has experienced since early 2024.
Mill City continues to pursue various transaction opportunities, including adjudicated insurance settlements, asset-based loans, and real estate backed loans.
Mill City Ventures III, (NASDAQ:MCVT), un prestatore non bancario e società di finanziamento speciale, ha annunciato un prestito a breve termine di 2 milioni di dollari a Enchant Christmas. Il finanziamento faciliterà tre attrazioni natalizie a Las Vegas, San Jose e Seattle.
Il CEO Douglas Polinsky ha evidenziato Enchant Christmas come il festival natalizio di punta del Nord America, sottolineando che ha generato 54 milioni di dollari di fatturato in un periodo di sei settimane durante la scorsa stagione natalizia. Questo prestito riflette la aumentata domanda di finanziamenti a breve termine che Mill City ha riscontrato dall'inizio del 2024.
Mill City continua a cercare varie opportunità di transazione, inclusi risarcimenti assicurativi giudiziali, prestiti garantiti da beni e prestiti garantiti da immobili.
Mill City Ventures III, (NASDAQ:MCVT), un prestamista no bancario y compañía de financiamiento especial, ha anunciado un préstamo a corto plazo de 2 millones de dólares a Enchant Christmas. La financiación facilitará tres atracciones navideñas en Las Vegas, San José y Seattle.
El CEO Douglas Polinsky destacó a Enchant Christmas como el festival navideño principal de América del Norte, señalando que generó 54 millones de dólares en ingresos en un período de seis semanas durante la temporada navideña pasada. Este préstamo refleja la creciente demanda de financiamiento a corto plazo que Mill City ha experimentado desde principios de 2024.
Mill City continúa buscando varias oportunidades de transacción, incluidos acuerdos de seguros adjudicados, préstamos respaldados por activos y préstamos garantizados por bienes raíces.
Mill City Ventures III, (NASDAQ:MCVT) 비은행 대출 기관 및 전문 금융 회사가 Enchant Christmas에 200만 달러의 단기 대출을 발표했습니다. 이 자금은 라스베가스, 샌호세, 시애틀에서 열리는 세 가지 휴일 명소를 지원할 것입니다.
CEO인 더글라스 폴린스키는 Enchant Christmas를 북미 최고의 휴일 페스티벌로 강조하며, 지난 휴가 시즌 6주 동안 5400만 달러의 수익을 올렸다고 언급했습니다. 이 대출은 2024년 초부터 Mill City가 경험한 단기 자금에 대한 증가하는 수요를 반영합니다.
Mill City는 법원에서 판결된 보험 합의, 자산 기반 대출 및 부동산 담보 대출을 포함한 다양한 거래 기회를 모색하고 있습니다.
Mill City Ventures III, (NASDAQ:MCVT), un prêteur non bancaire et une société de financement spécialisée, a annoncé un prêt à court terme de 2 millions de dollars à Enchant Christmas. Ce financement facilitera trois attractions de vacances à Las Vegas, San Jose et Seattle.
Le PDG Douglas Polinsky a souligné qu'Enchant Christmas était le festival de vacances de premier plan en Amérique du Nord, notant qu'il avait généré 54 millions de dollars de revenus au cours d'une période de six semaines lors de la dernière saison des fêtes. Ce prêt reflète la demande croissante de financements à court terme que Mill City a connue depuis le début de 2024.
Mill City continue de rechercher diverses opportunités de transaction, y compris des règlements d'assurance judiciaires, des prêts garantis par des actifs, et des prêts garantis par des biens immobiliers.
Mill City Ventures III, (NASDAQ:MCVT), ein nicht-bankenfinanzierter Kreditgeber und Spezialfinanzierungsgesellschaft, hat einen 2-Millionen-Dollar-Kurzzeitkredit an Enchant Christmas angekündigt. Die Finanzierung wird drei Feiertagsattraktionen in Las Vegas, San Jose und Seattle ermöglichen.
CEO Douglas Polinsky hob Enchant Christmas als das führende Weihnachtsfestival Nordamerikas hervor und stellte fest, dass es in der letzten Weihnachtssaison über einen Zeitraum von sechs Wochen 54 Millionen Dollar Umsatz generierte. Dieser Kredit spiegelt die wachsend Nachfrage nach kurzfristiger Finanzierung wider, die Mill City seit Anfang 2024 erlebt hat.
Mill City verfolgt weiterhin verschiedene Transaktionsmöglichkeiten, einschließlich gerichtlich entschiedener Versicherungsansprüche, asset-backed loans und hypothekenbesicherte Kredite.
- Provided a $2 million short-term loan to Enchant Christmas,
- Enchant Christmas generated $54 million in revenue over six weeks last holiday season
- Experiencing growing demand for short-term funding since early 2024
- Pursuing diverse transaction opportunities in various sectors
- None.
Insights
This
The loan aligns with Mill City's business model of providing non-bank lending and specialty finance solutions. It's particularly noteworthy that the company is experiencing growing demand for short-term funding in 2024, which could translate to increased revenue and profitability. Investors should monitor how this trend impacts Mill City's financial performance in the coming quarters.
While the loan amount is relatively small compared to Enchant's previous revenue, it demonstrates Mill City's capacity to engage with successful businesses and potentially build long-term relationships. This could lead to larger deals or repeat business in the future, contributing to steady growth for MCVT.
MINNEAPOLIS, MN / ACCESSWIRE / September 30, 2024 / Mill City Ventures III, Ltd. ("Mill City") (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced today its funding of a
Douglas Polinsky, Mill City CEO, stated "Enchant Christmas is the premiere holiday festival in North America, and we at Mill City are thrilled to be their financing partner." Mr. Polinsky goes on to say "Last holiday season Enchant generated
The loan exemplifies the growing demand for short-term funding experienced by Mill City since the beginning of 2024. Mill City 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 or www.millcityventures3.com.
About Enchant Christmas, LLC
More information about enchant can be obtained at www.enchantchristmas.com.
Contact:
Joseph A. Geraci
Chief Financial Officer
jg@millcityventures3.com
612-868-5815
SOURCE: Mill City Ventures III Ltd.
View the original press release on accesswire.com
FAQ
What is the amount of the loan Mill City Ventures III (MCVT) provided to Enchant Christmas?
Which cities will host Enchant Christmas attractions funded by Mill City Ventures III (MCVT)?
How much revenue did Enchant Christmas generate last holiday season according to Mill City Ventures III (MCVT)?
What types of transaction opportunities is Mill City Ventures III (MCVT) pursuing?
