Medallion Capital

What Medallion Capital does

Medallion Capital, Inc. is a licensed Small Business Investment Company (SBIC) and a wholly-owned subsidiary of Medallion Financial Corp, founded in 1979 and recognized as the oldest continuously operating SBIC in the United States. The firm provides flexible subordinated debt and minority equity capital to U.S.-based lower-middle market small businesses, with typical investment sizes of $2M–$10M+ structured as non-amortizing 3- to 7-year notes often paired with concurrent minority equity co-investments. Medallion Capital targets SBA-qualified small businesses with at least $5M in revenue and $2M in EBITDA, across five core sectors: Manufacturing & Industrials, Business Services & Construction Related, Healthcare & Public Safety, Technology & Analytics, and Food & Consumer Products. The firm operates as an evergreen SBIC and explicitly excludes foreign-owned businesses, real estate, farmland, and project financing.

Name

Medallion Capital

Legal name

Medallion Capital, Inc.

Website

https://medallioncapital.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

11–50 employees

Short description

Medallion Capital is a licensed SBIC and wholly-owned subsidiary of Medallion Financial Corp, providing subordinated debt ($2M–$10M+) and minority equity to U.S. lower-middle market small businesses across five core sectors. Founded in 1979, it is the oldest continuously operating SBIC in the United States.

Ownership category

akta.pro rank

Headquarters

HQ city

Burnsville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Subordinated Debt Interest: Provides non-amortizing flexible subordinated debt with 3-7 year note terms, generating revenue through interest payments (current and deferred). Typically structured with competitive pricing and often combined with minority equity co-investments.
2. Minority Equity Investment Returns: Concurrent minority equity investments alongside subordinated debt provide potential capital gains and equity participation in portfolio company growth.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Medallion Capital is a licensed Small Business Investment Company (SBIC) that provides flexible subordinated debt ($2M-$10M+) and minority equity co-investments to U.S.-based lower-middle market small businesses. Founded in 1979 as the nation's oldest SBIC, the firm partners with independent sponsors, private equity firms, and business owners to fund sponsored buyouts, management buyouts, acquisition financing, and recapitalizations across five core sectors.

Product overview

Medallion Capital is a licensed Small Business Investment Company (SBIC) offering flexible capital solutions to U.S. small businesses. As the nation's oldest SBIC (founded in 1979), the firm provides subordinated debt and minority equity capital tailored to situational needs. The core offerings consist of Subordinated Debt Financing ($2M-$10M+ non-amortizing flexible debt with 3-7 year terms) and Minority Equity Capital co-investments. Investment Criteria Services include evaluation of businesses with $5M+ revenue and $2M+ EBITDA across five core sectors: Manufacturing & Industrials, Business Services & Construction Related, Healthcare & Public Safety, Technology & Analytics, and Food & Consumer Products. The company partners with independent sponsors, private equity firms, family offices, capital allocators, business owners, and management teams.

Differentiator

Problem solved

Functional benefit

Products and services

• Subordinated Debt Financing
• Minority Equity Capital
• Investment Criteria Services (Capital Sourcing for Qualifying Small Businesses)

Quantifiable outcome

• Over 30 years of continuous SBIC operation as the nation's oldest licensed SBIC
• +2 more outcomes

Named customers11 records

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Main Street Capital: Publicly traded BDC providing debt and equity capital to lower-middle-market companies with $2M-$25M+ investments. Most direct functional analog to Medallion's debt-plus-equity model in the lower-middle market.
• Stellus Capital Investment Corp: Publicly traded BDC operating as an SBIC that provides senior and unitranche debt to middle-market companies. Directly comparable on SBIC structure, check size, and sponsor-driven origination.
• PennantPark Floating Rate Capital: Publicly traded BDC operating with SBIC leverage to provide senior secured loans to middle-market private equity-backed companies. Comparable SBIC regulatory structure and sponsor-focused origination model.
• Capitala Finance: BDC providing debt and equity capital to lower-middle-market companies, historically focused on subordinated debt and minority equity investments similar to Medallion's hybrid product.
• Trinity Capital: Publicly traded specialty BDC providing venture debt and equipment financing to growth-stage and lower-middle-market companies. Comparable on flexible debt-plus-equity structures and growth-company focus.
• NewSpring Capital: Private equity firm with mezzanine and lower-middle-market capital strategies. Operates comparable subordinated debt and minority equity funds with sponsor-backed deal flow.
• WhiteHorse Capital: Mezzanine debt fund manager providing subordinated debt and minority equity to lower-middle-market companies. Directly comparable on product structure (sub-debt + equity), check size, and sponsor partnerships.
• Huntington Capital: Lower-middle-market investment firm providing subordinated debt and equity to small businesses across multiple sectors. Comparable on size, deal structure, and small business focus.

Broad incumbents

• Golub Capital: Large direct lending platform with a dedicated lower-middle-market unit (Golub Capital Late Stage Lending). Provides unitranche and one-stop financing competing with sub-debt for Medallion's borrower profile.
• Churchill Asset Management: Nuveen-affiliated private credit manager offering senior debt, unitranche, and mezzanine to middle-market PE-backed companies. Overlapping lower-middle-market segment with comparable sponsor relationships.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/medallion-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Medallion Capital