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  Our sub-debt loans are made by Medallion Capital, a nationwide SBIC lender that we acquired in 1998. Medallion Capital uses a relationship driven strategy to make loans to small and medium sized manufacturers, service companies, distribution companies, radio and T.V. stations and other non-high tech businesses. Medallion Capital's loans are made in the form of sub-debt transactions which are secured by the borrower's assets. The rate on these loans is enhanced by warrants or other types of equity participations that help to offset the additional risk that is assumed by this loan type. The typical criteria that Medallion Capital requires before it makes an investment in a business include: positive cash flow, a qualified and experienced management team, sophisticated equity investors and sufficient collateral values recover the principal investment in liquidation. For more information regarding our mezzanine loans, please feel free to contact Paul Meyering at (612) 889-1316 or via e-mail at . 
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