Mill City Ventures III, Ltd. (MCVT) announced it has amended a $2.5 million credit facility. The amendment increased the interest rate from 15% to 24%. The maturity date of the facility was also extended.
This significant increase in the interest rate directly enhances MCVT's investment income. It boosts the profitability of its legacy lending operations. The company's average portfolio yield was previously reported at an impressive 20.00%.
The amendment demonstrates MCVT's ability to optimize returns from its existing loan portfolio. This strategic move contributes to the company's strong gross and net profit margins. These margins significantly outperform many traditional finance peers.
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