-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IcE+jaVvUpvLgpAT201wsitLuE64AAqrJN2tcMyJvjkbrU3KgLHwFPrOBFrdSJFM
 vGaj8dZ7xbBVwy9rX99ghQ==

<SEC-DOCUMENT>0001181431-03-007700.txt : 20030515
<SEC-HEADER>0001181431-03-007700.hdr.sgml : 20030515
<ACCEPTANCE-DATETIME>20030515102657
ACCESSION NUMBER:		0001181431-03-007700
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030514
FILED AS OF DATE:		20030515

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KOWALSKY MICHAEL J
		CENTRAL INDEX KEY:			0001226952

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27812
		FILM NUMBER:		03701573

	MAIL ADDRESS:	
		STREET 1:		C/O MEDALLION FINANCIAL CORP
		STREET 2:		437 MADISON AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEDALLION FINANCIAL CORP
		CENTRAL INDEX KEY:			0001000209
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				043291176
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		437 MADISON AVE 38 TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2123282153

	MAIL ADDRESS:	
		STREET 1:		437 MADISON AVENUE
		STREET 2:		38TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd8913.xml
<DESCRIPTION>5-14-03 FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

<documentType>4</documentType>
<periodOfReport>2003-05-14</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
<issuer><issuerCik>0001000209</issuerCik>
        <issuerName>MEDALLION FINANCIAL CORP</issuerName>
<issuerTradingSymbol>TAXI</issuerTradingSymbol></issuer>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik>0001226952</rptOwnerCik>
            <rptOwnerName>KOWALSKY MICHAEL J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Executive Vice President</officerTitle>
<otherText></otherText></reportingOwnerRelationship></reportingOwner>
<nonDerivativeSecurity>
<securityTitle>
<value>Common Stock</value></securityTitle>
<transactionDate>
<value>2003-05-14</value></transactionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved></transactionCoding>
<transactionTimeliness>
<value></value></transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>1100</value></transactionShares>
<transactionValue>
<value>5.85</value></transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value></transactionAcquiredDisposedCode></transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>1800</value></sharesOwnedFollowingTransaction></postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value></directOrIndirectOwnership>
<natureOfOwnership>
<value></value></natureOfOwnership></ownershipNature></nonDerivativeSecurity>
<ownerSignature>
<signatureName>Michael C. Carroll (attorney-in-fact)</signatureName>
<signatureDate>2003-05-15</signatureDate></ownerSignature></ownershipDocument>


</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----