Mill City Ventures III, Ltd. (OTCBB: MCVT), a non-bank lender and specialty finance company, announced today the establishment of a revolving credit facility in the initial amount of $5 million. The facility will allow Mill City Ventures to leverage its current loan portfolio and continue meeting demand for loans. Management believes the facility will also allow for future earnings increases without equity dilution.
“We are so pleased to have the line of credit with one of our well respected board members who has not only been an invaluable resource for our board but now as a resource for the expansion of our loan book,” said Mill City Ventures’ Chief Executive Officer Douglas M. Polinsky.
