Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: September 14, 2007
Event Date: September 14, 2007
This filing reports the entry into a material definitive agreement regarding a credit facility extension for Medallion Funding Corp., a wholly-owned subsidiary of the registrant.
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 specific transaction regarding a revolving line of credit.
Material Changes
- Credit Facility Extension: Atlantic Bank, a division of New York Commercial Bank, extended the maturity date of the Amended and Restated Revolving Secured Line of Credit Promissory Note.
- Original Note Date: March 6, 2006.
- New Maturity Date: October 15, 2007.
- Counterparty: The Note is held by Medallion Funding Corp. in favor of Atlantic Bank.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the specific agreement to extend the credit line maturity.
Investor Verification Checklist
- Verify the total principal amount outstanding on the Revolving Secured Line of Credit as of the extension date.
- Confirm if the extension included any changes to interest rates, fees, or covenants associated with the Note.
- Review the subsidiary's (Medallion Funding Corp.) overall leverage and liquidity position to assess the necessity of the extension.
- Check for any subsequent filings regarding the repayment or further extension of this facility after October 15, 2007.