Mill City Ventures III provides $1.75M to support senior living acquisition

Mill City Ventures III (MCVT) announced the funding of a $1.75M short-term loan to Coventry Holdings of Minnesota to support its acquisition of a senior-living facility located in Anoka, Minnesota. The loan was made under an agreement dated March 21, 2025, and is designed to provide bridge capital as Coventry expands its footprint across the Twin Cities metropolitan area. The financing carries a 24% annual interest rate, a maturity of nine months, and is secured by certain personal guarantees and pledges of equity.