ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On January 25, 2013, the SBA committed to reserve leverage in the form of debentures in an amount equal to $5.0 million (the "Commitment") to Medallion Capital, Inc. ("Medallion Capital"), a wholly-owned subsidiary of Medallion Financial Corp. Medallion Capital accepted the Commitment on January 28, 2013 and paid to the SBA a leverage fee in the amount of $50,000.00. The remaining portion of the leverage fee in the amount of $100,000.00 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, 2017, the Commitment's expiration date.

The foregoing description of the Commitment is qualified in its entirety by reference to the Commitment, which is attached as an exhibit hereto and is incorporated herein by reference in its entirety.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit No. Description 10.1 Commitment Letter, dated January 25, 2013, by the Small Business Administration to Medallion Capital, Inc., accepted and agreed to by Medallion Capital, Inc. on January 28, 2013.

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