8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):	Commission File Number:
December 5, 2007	814-00188

MEDALLION FINANCIAL CORP.

(Exact name of registrant as specified in its charter)

Delaware	04-3291176
(State or other jurisdiction of incorporation)	(IRS Employer Identification Number)

437 Madison Avenue

New York, New York 10022

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code:

(212) 328-2100

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01 OTHER EVENTS.

Medallion Financial Corp. (the “Company”) issued a press release to the news media announcing, among other things, the Company’s renewal of its credit facility with Citicorp North America, Inc. as previously disclosed in the Company’s Current Report on Form 8-K filed on December 4, 2007 (File No. 814-00188).

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in the press release is being furnished, not filed, pursuant to Item 8.01. Accordingly, the information in the press release will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

99.1 Press release, dated December 5, 2007.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MEDALLION FINANCIAL CORP.
By:	/s/ Larry D. Hall
Name:	Larry D. Hall
Title:	Chief Financial Officer
Date:	December 6, 2007

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Exhibit Index

Exhibit No.	Description
99.1	Press release, dated December 5, 2007.

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EX-99.1

Exhibit 99.1

FOR FURTHER INFORMATION:

AT THE COMPANY:	AT ZLOKOWER COMPANY:
Medallion Financial Corp.
437 Madison Avenue – 38th floor
New York, New York 10022
Andrew M. Murstein, President	Public Relations
Larry D. Hall, CFO	Harry Zlokower/Dave Closs
1-212-328-2100	1-212-447-9292
1-877-MEDALLION

FOR IMMEDIATE RELEASE

December 5, 2007

Medallion Financial Credit Facility Renewed

and Increased to $250 Million

NEW YORK, N.Y. – December 5, 2007—Medallion Financial Corp. (NASDAQ: TAXI), a specialty finance company with a leading position servicing the taxicab industry and other niche markets announced today that, through a special purpose subsidiary, it renewed its commercial paper conduit facility agreement administered by Citicorp North America, Inc. for an additional 364 days. The facility covers taxicab medallion lending in New York City as well as Boston, Chicago and other cities throughout the United States. The maximum committed credit under the facility was also increased to $250,000,000, up from $125,000,000.

Andrew Murstein, President of Medallion Financial stated, “We are very pleased with this transaction and our increased credit relationship with Citibank. In this turbulent credit environment, to not only renew a facility, but to double its size is a testament to our

company and the outstanding credit quality of our medallion loans. Taxi medallions have been one of the best asset classes to lend against in the United States for more than 50 years, and we are proud to be an industry leader.”

Larry Hall, Medallion Financial’s Chief Financial Officer, stated, “Over the last three years, we have grown our managed taxicab medallion portfolio by 60%, and corporate medallion prices have increased by 75% in the same period. Our current portfolio of medallion loans exceeds $594,000,000. This new credit facility ensures we have the funding necessary to effectively grow the portfolio in the coming year and beyond.”

About Medallion Financial

Medallion Financial Corp. is a specialty finance company with a leading position in the origination and servicing of loans financing the purchase of taxicab medallions and related assets. The Company also originates and services loans in other commercial industries and its wholly-owned portfolio company Medallion Bank also originates and services consumer loans. The Company and its subsidiaries have lent over $2.6 billion to its taxicab industry and other small businesses.

Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, costs, sales, net investment income, earnings, and growth. Medallion’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, those factors discussed under the heading “Risk Factors” in the Medallion’s 2006 Annual Report on Form 10-K.