Mill City funds $ 1.25 million secured loan
MINNEAPOLIS, October 1, 2021 / PRNewswire / – Mill City Ventures III, Ltd. (“Mill City”) (OTCQB: MCVT) today announced the finalization of the financing of a $ 1.25M asset-backed loan.
“We completed the loan application within a very short period of time. The loan is secured by an aviation aircraft and our appraised loan is very attractive, as are the yields on this short term loan, ”commented the Managing Director. Douglas M. Polinsky. “We hope this loan will continue to prove to our investors how we are able to find diversified loans with varying degrees of risk while still being careful to provide outrageous returns relative to the risk.”
The precise terms of the loan were not disclosed.
The forward-looking statements contained in this press release are made in accordance with 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 a risk. material difference between actual results and future results expressed or implied by forward-looking statements, including, without limitation, continued demand for specialized short-term non-bank loans, increased levels of competition, new products or offers introduced by competitors, changes in market loan rates, 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 loans. Additional information can be found at www.sec.gov.
SOURCE Mill City Ventures III, Ltd.