Mill City Ventures III, Ltd. announces record results for the first quarter of 2021

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MINNEAPOLIS, May 18, 2021 / PRNewswire / – Mill City Ventures III, Ltd. (“Mill City” or the “Company”) (OTCQB: MCVT), a non-bank lender and specialty finance company, today announced its sales and net income for the quarter ended March 31, 2021.

  • Interest income increased 206% for $ 546,842 of $ 178,245 for the first trimester a year ago (the previous period)
  • Operating profits were $ 12,984 compared to $ 79,587 for the previous period, a decrease mainly due to the bonuses of the directors of $ 200,000 paid in the first trimester
  • Equity increased 37% to $ 13.3M of $ 9.8M at the end of the previous period
  • The net asset value per share increased by 41% to $ 1.24 of $ 0.88 at the end of the previous period.

“We basically started a new business a year ago in the first quarter. Since then, we have had our fifth consecutive quarter of profitability. At the end of the first quarter, the size of our loan portfolio is larger than it has ever been. $ 11 million. Quarterly results demonstrate our ability to capitalize on a myriad of different lending opportunities and expand the reach of the types of loans we make while enjoying attractive rates of return. We continue to see an increase in potential returns from our specialized non-bank financing lending business, ”commented the CEO. Douglas M. Polinsky.

“The additional opportunity to provide third-party financing to buyers on gunbroker.com, a wholly-owned subsidiary of Ammo, Inc. (NASDAQ: POWW) has the potential to significantly increase our loan portfolio in a span of time. reduced time. “

The Company continues to explore opportunities in real estate, securities lending, insurance claims, litigation and business acquisitions. Loans are generally structured with short maturities ranging from 9 to 12 months.

The forward-looking statements contained in this press release are made in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to vary materially. future results expressed or implied by forward-looking statements, including, without limitation, the continued demand for specialized short-term non-bank loans, the ability of the Company to continue to develop its investment portfolio while benefiting attractive returns, increased competition, new products or offerings introduced by competitors, changes in market loan rates and other risks.

About Mill City Ventures III, Ltd.
Founded in 2007, Mill City Ventures III, Ltd., is a non-bank short-term lending and specialty finance company.

SOURCE Mill City Ventures III, Ltd.

Related links

http://www.millcityventures3.com



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