Medallion Financial Corp was founded in 1995. It is a specialty finance company that originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The Company's wholly-owned portfolio, Medallion Bank, also originates consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, and to finance small scale home improvements. It conducts its business through various wholly-owned subsidiaries including: Medallion Funding, a Small Business Investment Company, or SBIC, its taxicab medallion lending company; Medallion Capital, an SBIC and a regulated investment company, or RIC, which conducts a mezzanine financing business; and Freshstart, an SBIC and a RIC, which originates and services taxicab medallion and commercial loans. In addition, it conducts business through a wholly-owned portfolio company, Medallion Bank, a bank regulated by the FDIC and the Utah Department of Financial Institutions which originates taxicab medallion, commercial, and consumer loans, raises deposits, and conducts other banking activities. It also provides loans to individuals and small to mid-size businesses, both directly through its investment company subsidiaries and also through Medallion Bank, in three primary markets: loans that finance taxicab medallions; loans that finance commercial businesses; and loans that finance consumer purchases of recreational vehicles, boats, motorcycles, and trailers, and to finance small scale home improvements. Banks, credit unions, and finance companies, some of which are SBICs, compete with the company in originating medallion, commercial, and consumer loans. In addition, finance subsidiaries of equipment manufacturers also compete with it in originating commercial loans.