Medallion Bank

Medallion Bank is an FDIC-insured industrial bank based in Salt Lake City, Utah, with an additional office near Seattle, Washington. Established in 2003, it operates as a wholly owned subsidiary of Medallion Financial Corp., a commercial finance company. The bank specializes in consumer and commercial financing, providing low-cost funding to support its parent company's lending activities. The bank offers a range of services, including consumer loans for recreational vehicles, boats, home improvements, and trailers. It also provides commercial loans, focusing on taxi medallion loans, asset-based lending to various industries, and subordinated loans to small and medium-sized businesses. Additionally, Medallion Bank collaborates with fintech partners to offer loan origination services, working with a network of dealers, contractors, and financial service providers across the U.S. The bank emphasizes strong relationships and transparency in its operations.