Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: March 27, 2019
Reporting Period: Event date March 27, 2019; Signed March 29, 2019.
The filing reports on a material definitive agreement entered into by Freshstart Venture Capital Corp., a wholly-owned subsidiary of Medallion Financial Corp.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt levels, or liquidity metrics. The document focuses exclusively on the amendment of existing loan agreements.
Material Changes
On March 27, 2019, the subsidiary Freshstart Venture Capital Corp. entered into amendments to two existing agreements with the U.S. Small Business Administration (SBA):
- Loan Agreement: Effective January 25, 2017, amended via Amendment No. 6.
- Note: Effective March 1, 2017, amended via Amendment No. 5.
The amendments implemented certain technical changes. The filing states that the description is not complete and refers to the full text of the amendments filed as exhibits.
Guidance, Outlook, and Risks
The filing does not provide management commentary, financial guidance, outlook, or specific risk factors beyond the standard incorporation by reference of the amendment documents. No unusual items or contingencies are detailed in the text of this report.
Investor Verification Checklist
- Review Exhibit 4.1 (Amendment No. 5 to Note) and Exhibit 10.1 (Amendment No. 6 to Loan Agreement) to understand the specific "technical changes" implemented.
- Verify the impact of these amendments on the subsidiary's debt covenants and repayment terms.
- Confirm that no other material financial obligations were triggered by these amendments.