Medallion Financial Corp Competitors, Revenue, Alternatives and Pricing

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Overview

Location:
Total Funding:N/A
Industry:Finance
Founded:1979
Lead Investor(s):N/A

Employee Data

  • Medallion Financial Corp has 74 Employees.(?)
  • Medallion Financial Corp currently has 1 job openings.

Medallion Financial Corp. is comprised of a unique combinantion of growing niche businesses. First and foremost, the Company holds a leading position in the origination and servicing of loans to finance the purchase of taxicab medallions. In New York City, the country's largest market, taxi medallions sell for more than $200,000 each and the value of all taxi medallions exceeds $3,000,000,000! Medallion has an estimated 20% market share, and is rapidly expanding into other major metropolitan areas. A second leading niche is the Company's commercial loan business, which caters to small businesses in targeted segments such as dry cleaners and laundromats. In October of 1997, the Company expanded its commercial lending niche through the acquisition of the assets of Business Lenders, LLC., one of the ten largest non-bank SBA lenders. In the U.S., Business Lenders provides loans to all types of small to mid-size businesses secured by real estate and other assets. Through the acquisition, the Company is now able to originate loans under the SBA 7(a) guaranteed loan program and has significantly expanded its geographic reach. Another of Medallion's niche business segments is taxi top advertising. Taxi top advertising is a natural extension of its core business and allows the Company to capitalize on its strong relationships with taxicab owners.

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