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/PRNewswire/ Mill City Ventures III, Ltd. ("Mill City" or the "Company") (OTCQB: MCVT), a non-bank lender and specialty finance company, announced today its. ....
Mill City completes two additional insurance settlement fundings News provided by Share this article Share this article MINNEAPOLIS, March 16, 2021 /PRNewswire/ Mill City Ventures III, Ltd. ( Mill City ) (OTCQB: MCVT) announced today its participation in a purchase of two settled insurance claims. Mill City s portion of participation was approximately $1.3M. Mill City Chief Executive Officer Douglas M. Polinsky said, The new year has continued to bring new funding opportunities within the scope of our core funding programs. Again, we are able to provide a valuable service in allowing people due money on adjudicated settlements to wait no longer than necessary for their money. ....
Mill City Ventures reports record year for revenues and earnings News provided by Share this article Share this article WAYZATA, Minn., March 10, 2021 /PRNewswire/ Mill City Ventures III, Ltd. ( Mill City or the Company ) (OTCQB: MCVT), a non-bank lender and specialty finance company, announced today its revenue and net income for the year ended December 31, 2020 was a record from 13 years in business. Revenues increased 700% to $1.3M from $161,000 for the prior year Earnings from operations was $561,000, an increase from a loss of $672,000 for the prior year Net asset increase from operations before taxes was $2.5M, compared to a net loss from operations before taxes of ($657,000) ....
Mill City completes insurance settlement funding News provided by Share this article Share this article MINNEAPOLIS, Jan. 14, 2021 /PRNewswire/ Mill City Ventures III, Ltd. ( Mill City ) (OTCQB: MCVT) announced today its participation in a purchase of two settled insurance claims. Mill City s portion of participation was $1.05M. Specific terms of the loan were not disclosed. However, Mill City Chief Executive Officer Douglas M. Polinsky said, The purchase of this fully adjudicated settlement is another example of our flexibility as a hard money lender and specialty finance company. The settlement is well within our risk standards and the return on our investment is far above market for similar type risk investments. We are able to receive above market rates due to our quick underwriting and funding process. ....