WAYZATA, MN / ACCESS Newswire / July 7, 2025 / Mill City Ventures III, Ltd. ("Mill City") (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced today it has amended a $2.5 million credit facility by increasing the interest rate from 15% to 24% and extending the maturity date. In addition, the company funded a new $400,000 secured short-term loan bearing a 24% interest rate.
"These transactions reflect Mill City's focus on maintaining disciplined underwriting standards while capturing compelling risk-adjusted returns," said Mill City CEO Douglas M. Polinsky.
He continued, "Our ability to increase yields on existing credits and originate new high-yield secured loans demonstrates our proactive management strategy and our ongoing commitment to generating superior returns for our investors."
Mill City continues to see strong interest in its short-term capital solutions and remains active across multiple sectors including real estate, small business lending, and opportunistic credit.
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 specialty finance company focused on short-term lending and structured finance solutions. The company provides capital to businesses through secured loan agreements, offering investors attractive returns with a focus on security and risk mitigation. More information about the company can be obtained at www.sec.gov or www.millcityventures3.com.
Investor Relations Contact:
Joseph A. Geraci
Chief Financial Officer
Mill City Ventures III, Ltd.
612-868-5815
jg@millcityventures3.com
SOURCE: Mill City Ventures III Ltd.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/mill-city-ventures-iii-ltd.-increases-yield-on-2.5m-credit-facility-1046111
