Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Report Date: September 20, 2006
Event Date: September 20, 2006
This filing reports a specific event regarding a commitment by the Small Business Administration (SBA) to a wholly-owned subsidiary, Freshstart Venture Capital Corp.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or margin data. The only specific financial figure disclosed relates to the SBA commitment:
- SBA Debenture Commitment: $6.0 million
- Recipient: Freshstart Venture Capital Corp. (wholly-owned subsidiary)
- Commitment Expiration: September 30, 2010
Material Changes
The material change reported is the SBA's commitment to reserve leverage in the form of debentures totaling $6.0 million for Freshstart. This represents a new source of potential leverage for the subsidiary, valid for a four-year period from the report date.
Guidance, Outlook, and Risks
Management Commentary: The filing is a factual disclosure of the SBA commitment and does not include forward-looking guidance, earnings outlook, or detailed management commentary beyond the event description.
Risks and Contingencies: The filing does not explicitly list risks or contingencies associated with this commitment. The commitment is subject to acceptance by Freshstart prior to the September 30, 2010 expiration date.
Investor Verification Checklist
- Verify the terms and conditions of the SBA debenture commitment in subsequent filings or agreements.
- Confirm whether Freshstart Venture Capital Corp. has formally accepted the $6.0 million commitment.
- Review the company's most recent 10-K or 10-Q for baseline financial metrics (revenue, debt, liquidity) as this 8-K does not contain them.