I wouldn't want to hold this for 5yrs if the price and market fell. They were a BDC that elected to convert to a bank holding company in 2018. No longer required under the 1940 act to have 200% coverage of their assets. Reminds me of NEWT This is not a term preferred but a perpetual.
Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Loans, Taxi Medallion Lending, and Strategic Partnership Loans. The company offers loans that finance consumer purchases of recreational vehicles, boats, collector cars, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.
If the economy slows down even more and someone loses their job is MFIN going to repossess the swimming pool? |
