Revenue Increased 83% year over year and 83% for 6-month period
MINNEAPOLIS, MN, Aug. 10, 2022 – Mill City Ventures III, Ltd. (NASDAQ: MCVT), a leading non-bank lender and specialty finance company is pleased to provide guidance for the second quarter of the 2022 fiscal year.
For the second quarter ending June 30, 2022, the company expects revenue to exceed approximately $1.2M, an estimated 83% year-over-year increase compared to approximately $675,000 forsecond quarter of fiscal 2021. Six-month revenue is expected to exceed approximately $2.2M compared to approximately $1.2M for the same period of fiscal 2021, also representing an 83% increase.
Commenting on the guidance, Chief Executive Douglas M. Polinsky said, “The demand for loans from our borrowers has been vibrant and we continue to work diligently for the benefit of our borrowers and stockholders.”
About Mill City Ventures III, Ltd.
Mill City Ventures III, Ltd., is a short-term non-bank lending and specialty finance company.
Joseph A. Geraci, CFO