MILL CITY VENTURES III overview

MINNEAPOLIS, MN / ACCESS Newswire / March 25, 2025 / Mill City Ventures III, Ltd. (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced today the funding of a $1.75 million short-term loan to Coventry Holdings of Minnesota, LLC, to support its acquisition of a senior-living facility located in Anoka, Minnesota. The loan was made under an agreement dated March 21, 2025, and is designed to provide bridge capital as Coventry expands its footprint across the Twin Cities...

MINNEAPOLIS, MN / ACCESS Newswire / March 10, 2025 / Mill City Ventures III, Ltd. (Nasdaq:MCVT) ("Mill City" or the "Company"), a non-bank lender and specialty finance company, today announced its financial results for the full year ended December 31, 2024. Full Year 2024 Highlights: Net Investment Gain: $1.33 million for 2024, marking a positive turnaround from a $(420,000) loss in 2023. Investment Income: $3.30 million in 2024, consistent with $3.29 million in 2023. Operating Expenses:...

WAYZATA, MN / ACCESS Newswire / February 13, 2025 / Mill City Ventures III, Ltd. ("Mill City") (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced today its funding of an additional $1 million advance pursuant to its short-term credit and security agreement with Coventry Holdings of Minnesota, LLC. The purpose of the short-term loan is to facilitate the startup and construction/development cost of an additional senior care project while the borrower seeks alternative...

WAYZATA, MN / ACCESS Newswire / February 3, 2025 / Mill City Ventures III, Ltd. (NASDAQ:MCVT) announced today that it has entered into a Security Agreement with Mustang Funding, LLC. Under the Security Agreement, Mill City Ventures obtained a second-position lien on substantially all of Mustang Funding's assets to serve as collateral for Mill City Ventures' $10 million principal amount loan to Mustang Funding. [ Mill City Ventures also entered into an Amended and Restated Subordination and...

MINNEAPOLIS, MN / ACCESS Newswire / January 29, 2025 / Mill City Ventures III, Ltd. ("Mill City") (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced today the execution of Amendment No. 5 to its Fourth Short-Term Loan Agreement and Fourth Short-Term Promissory Note ("the Note") with Mustang Funding, LLC. This amendment reflects continued collaboration between the parties and introduces several key updates to the agreement and Note, effective January 21, 2025. The...

MINNEAPOLIS, MN / ACCESSWIRE / January 13, 2025 / Mill City Ventures III, Ltd. ("Mill City") (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced today certain select data from its 2024 short-term lending operations. Mill City's short-term loan activity in fiscal year 2024 included the following: $17,145,000 in principal amount of loan extensions for six loans $4,550,000 in principal amount for four new short-term loans $8,507,500 in principal amount of maturities for seven...

MINNEAPOLIS, MN / ACCESSWIRE / January 6, 2025 / Mill City Ventures III, Ltd. (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced today its partial funding commitment of a $3 million aggregate loan commitment with a fast-growing Twin Cities-based operator of senior care facilities. The use of proceeds is to fund a short-term capital need while the operator/borrower seeks to obtain one or more longer-term sources of expansion capital. "We are pleased to continue our lending...

MINNEAPOLIS, MN / ACCESSWIRE / November 12, 2024 / Mill City Ventures III, Ltd. (Nasdaq:MCVT) (Mill City or the "Company") a non-bank lender and specialty finance company, today announced financial results for the three-month and nine-month periods ended September 30, 2024. 3Q 2024 Highlights Pre-tax earnings from lending operations increased in the third quarter to $589,283 from $305,960 in the prior-year period, a 93% increase. In the nine-month period, pre-tax earnings reached $1.26 million...