Mill City Ventures III announces select 2024 short-term loan portfolio data

Mill City Ventures III (MCVT) announced certain select data from its 2024 short-term lending operations. Mill City’s short-term loan activity in fiscal year 2024 included the following: $17,145,000 in principal amount of loan extensions for six loans; $4,550,000 in principal amount for four new short-term loans; $8,507,500 in principal amount of maturities for seven short-term loans; The four new short-term loans originated during the year have a weighted-average yield of 27.49% per annum. “With approximately $6M of current liquidity and a consistent and growing demand from potential and existing borrowers, we are extremely optimistic about 2025. Our intention, as has been historically, is to continue pursuing our goal of increasing the weighted-average interest rate of our short-term loan portfolio,” commented CEO Douglas M. Polinsky.