AMENDMENT TO RESOLVING SECURED LINE OF CREDIT PROMISSORY NOTESecured Line of Credit Promissory Note • July 22nd, 2008 • Medallion Financial Corp • Finance services
This Amendment entered into as of July 15, 2008 by and between the undersigned Borrower (the “Borrower”) and NEW YORK COMMERCIAL BANK, successor in interest to ATLANTIC BANK (the “Bank”).
FOR FURTHER INFORMATION: AT MEDALLION FINANCIAL CORP. AT ZLOKOWER COMPANYPurchase Agreement • July 22nd, 2008 • Medallion Financial Corp • Finance services
New York, NY, July 17, 2008 – Medallion Financial Corp. (NASDAQ:TAXI), a specialty finance company with a leading position servicing the taxicab industry and other niche markets, announced that its wholly owned subsidiary, Medallion Bank, has agreed to purchase substantially all of Elk Associates Funding Corporation’s taxicab medallion loans for approximately $29.1 million. Another subsidiary of Medallion Financial, Freshstart Venture Capital Corp., will purchase certain other small business loans at the closing for approximately $2.0 million. The transaction is subject to customary closing conditions, and is subject to certain terms and conditions, including approval by the shareholders of Ameritrans Capital Corporation, the parent company of Elk. The transaction is expected to close no later than October 15, 2008
