Mill City Ventures III, Ltd. (MCVT) funded a $1.75 million short-term loan to Coventry Holdings of Minnesota, LLC. This loan is specifically to support the acquisition of a senior-living facility. The facility is located in Anoka, Minnesota.
This transaction highlights MCVT's continued role in facilitating growth for its clients. The company provides capital for strategic initiatives such as acquisitions. This activity is part of its core specialty finance business.
The loan contributes to MCVT's consistent generation of interest income and fees. Its portfolio of short-term, secured loans remains a profitable segment. This provides a stable base for the company's financial results.
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