Medallion amends credit facility maturity, seeks longer extension

By Marisa Wong

Morgantown, W.Va., July 5 – Medallion Financial Corp. amended on Monday its amended and restated credit agreement dated March 28, 2011 to extend the maturity date of the facility to July 31, 2018.

The company and Sterling National Bank are currently in the process of negotiating a longer term amendment to the credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

New York-based Medallion is a specialty finance company that originates and services loans in commercial industries.

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