Item 1.01 Entry into a Material Definitive Agreement.

The SBA committed to reserve leverage in the form of debentures in an amount equal to $25 million (the "Commitment") to Medallion Capital, Inc. ("Medallion Capital"), a wholly-owned subsidiary of Medallion Financial Corp. (the "Company"). Medallion Capital accepted the Commitment on July 31, 2020 and paid to the SBA a leverage fee in the amount of $250,000.00. The remaining portion of the leverage fee in the amount of $500,000.00 will be deducted pro rata as Medallion Capital draws from the Commitment proceeds. Medallion Capital can draw from the Commitment proceeds, in whole or in part, until September 30, 2024, the Commitment's termination date.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Commitment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are being filed with this Current Report on Form 8-K:





10.1      Commitment Letter by the Small Business Administration to Medallion
        Capital, Inc., accepted and agreed to by Medallion Capital, Inc. on
        July 31, 2020.




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