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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) after taxes/net decrease on net assets resulting from operations $ (26,907,000) $ 1,996,000 $ (22,739,000) [1]
Adjustments to reconcile net income (loss)/net decrease in net assets resulting from operations to net cash provided by operating activities:      
Provision for loan losses 69,817,000 47,386,000 59,008,000 [1]
Paid-in-kind interest (1,188,000) (834,000) (1,869,000) [1]
Depreciation and amortization 7,714,000 7,499,000 5,564,000 [1]
Amortization of origination fees, net 6,022,000 4,952,000 3,132,000 [1]
(Decrease) increase in deferred and other tax liabilities, net (8,776,000) 853,000 13,637,000 [1]
Net change in value of loan collateral in process of foreclosure 31,926,000 11,838,000 9,926,000 [1]
Net realized (gains) losses on sale of investments 4,305,000 (1,820,000) (5,921,000) [1]
Net change in unrealized (appreciation) depreciation on investments   1,734,000 6,457,000 [1]
Stock-based compensation expense 2,030,000 1,221,000 576,000 [1]
Gain on deconsolidation of Trust III [1]     (25,325,000)
Gain on extinguishment of debt   (4,145,000)  
Intangible asset impairment [1]     5,615,000
(Increase) decrease in accrued interest receivable (1,676,000) (1,249,000) 797,000 [1]
Decrease in other assets 2,223,000 2,838,000 1,309,000 [1]
Decrease in accounts payable and accrued expenses (7,206,000) (8,024,000) (675,000) [1]
Increase in accrued interest payable 422,000 690,000 139,000 [1]
Loans originated [1]     (8,193,000)
Proceeds from principal receipts, sales, and maturities of loans [1]     13,279,000
Capital returned by Medallion Bank and other controlled subsidiaries, net [1]     93,000
Net change in unrealized depreciation on investment other than securities [1]     1,915,000
Increase in unrealized appreciation on Medallion Bank and other controlled subsidiaries [1]     (29,115,000)
Net realized losses on investments [1],[2]     34,745,000
Increase in other liabilities [1]     4,196,000
Net cash provided by operating activities 78,706,000 64,935,000 66,551,000 [1]
CASH FLOWS FROM INVESTING ACTIVITIES      
Loans originated (506,106,000) (471,069,000) (333,740,000) [1]
Proceeds from principal receipts, sales, and maturities of loans 321,831,000 251,653,000 302,409,000 [1]
Purchases of investments (15,580,000) (10,507,000) (10,376,000) [1]
Proceeds from principal receipts, sales, and maturities of investments 15,399,000 7,119,000 6,417,000 [1]
Proceeds from the sale and principal payments on loan collateral in process of foreclosure 13,499,000 16,294,000 11,593,000 [1]
Net cash used for investing activities (170,957,000) (206,510,000) (23,697,000) [1]
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from time deposits and funds borrowed 668,577,000 525,842,000 364,139,000 [1]
Repayments of time deposits and funds borrowed (526,064,000) (414,277,000) (389,951,000) [1]
Purchase of federal funds   4,000,000 8,000,000 [1]
Repayments of federal funds   (4,000,000) (8,000,000) [1]
Non-controlling interest equity raised by Medallion Bank   42,485,000  
Distributions to non-controlling interests (6,043,000) (2,367,000) (1,776,000) [1]
Payments of declared distributions [1]     (66,000)
Net cash provided by (used for) financing activities 136,470,000 151,683,000 (27,654,000) [1]
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 44,219,000 10,108,000 15,200,000 [1]
Cash and cash equivalents, beginning of period [3],[4] 67,821,000 57,713,000 [1] 42,513,000 [1]
Cash and cash equivalents, end of period [4] 112,040,000 67,821,000 [3] 57,713,000 [1],[3]
SUPPLEMENTAL INFORMATION      
Cash paid during the period for interest 31,204,000 32,008,000 25,102,000 [1]
Cash paid during the period for income taxes 104,000 310,000 85,000 [1]
NON-CASH INVESTING      
Loans transferred to loan collateral in process of foreclosure, net 47,254,000 $ 31,348,000 32,125,000 [1]
Loans transferred to other foreclosed property $ 1,800,000    
Previously Unconsolidated Subsidiaries [Member]      
SUPPLEMENTAL INFORMATION      
Cash, cash equivalents and federal funds sold     29,923,000
Medallion Bank [Member]      
SUPPLEMENTAL INFORMATION      
Deposit     $ 100,000
[1] Balance includes the nine months ended December 31, 2018 under Bank Holding Company Accounting and the three months ended March 31, 2018 under Investment Company Accounting.
[2] There were no net losses on investment securities of affiliated issuers for the year ended December 31, 2018.
[3] Included in the beginning balance for the year ended December 31, 2018 was $29,923 of cash, cash equivalents, and federal funds sold as a result of the consolidation of previously unconsolidated subsidiaries and excludes $100 of cash held by the Company on deposit with the Bank.
[4] Includes federal funds sold.