04/10/26 - Press Release: Medallion Financial Defaults on $73.5 million in SBA Debt — SBA Says It Lacks a Qualified Management Team. ZimCal Says It's No Surprise
Full press release HERE.
ZimCal shows that poor leadership and capital decisions by the CEO and board of Medallion Financial Corp. are holding back value - most recently MFIN defaulted on $73.5 million in SBA debt. For over 2 1/2 years, ZimCal has tried to work with MFIN to increase its multiples and valuation. ZimCal even provided a 30+ page version of its 5 Steps to Improvement white paper to enhance value, but was ignored despite being one of Medallion’s largest investors. ZimCal’s long-term view remains overwhelmingly positive if MFIN has the right governance and leadership team in place.