Mill City Ventures III, Ltd. (“Mill City”) (NASDAQ:MCVT), a specialty short-term finance and non-bank lender, announced today that it extended an additional $1 million of short-term loan principal to Mustang Funding LLC d/b/a Mustang Litigation Funding (“Mustang”) and refinanced and extended earlier provided short-term loan principal.
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Mustang Funding
Mill City Ventures III, Ltd. Provides Short-Term Loan to Mustang Litigation Funding
by John Freund
written by John Freund
Mill City Ventures III, Ltd. (“Mill City”) (NASDAQ:MCVT), a specialty short-term finance and non-bank lender, announced today that, in accordance with its previously announced letter of intent regarding a proposed merger transaction with Mustang Funding, LLC dba Mustang Litigation Funding (“Mustang”), it has entered into a $5 million short-term financing arrangement with Mustang in furtherance of the proposed merger. The related short-term note is scheduled to mature on the ninth-month anniversary of the loan.
Alternative Investment specialist Percent recently announced a strategic partnership with Mustang Litigation Funding. Mustang, founded in 2018, focuses on portfolio litigation funding and personal injury case funding. This includes product liability, auto accidents, and premises liability. The partnership is expected to expand investment options and grow the companies’ network of partners.