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Form 8-K Medallion Financial Corp. (Nasdaq: MFIN)
As part of its strategic evolution, Medallion also announced today that its wholly-owned subsidiary Freshstart Venture Capital Corp. (“Freshstart”), which was mainly engaged in the taxi medallion lending area, has come to terms with the U.S. Small Business Administration (“SBA”) to restructure its outstanding debentures with the SBA into a new $34.0 million loan, effective March 1, 2017. Commensurate with the loan agreement, Freshstart will no longer originate any new medallion loans.
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Author Ira M. Millstein a senior partner in the international law firm Weil, Gotshal & Manges LLP