Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: June 28, 2005
Event Date: June 28, 2005
Medallion Financial Corp. filed this report to disclose the entry into a material definitive agreement regarding its existing debt facility.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, total debt, or liquidity ratios. The report focuses exclusively on a contractual amendment to a loan agreement.
Material Changes
- Loan Agreement Amendment: On June 28, 2005, the company amended its Loan and Security Agreement dated April 26, 2004, with Sterling National Bank.
- Maturity Extension: The primary change under the Amendment is the extension of the Loan Agreement's maturity date to July 31, 2005.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies were disclosed beyond the immediate context of the loan maturity extension.
Investor Verification Checklist
- Verify the total principal amount outstanding under the amended Loan and Security Agreement with Sterling National Bank.
- Confirm whether the extension to July 31, 2005, was accompanied by changes to interest rates, covenants, or collateral requirements.
- Review subsequent filings to determine if the loan was repaid, refinanced, or further extended after the July 31, 2005, maturity date.