SEC Info - Mill City Ventures III, Ltd. - ‘10-Q’ for 3/31/22

SEC Info℠

Home

Help

Please Sign In

Mill City Ventures III, Ltd. – ‘10-Q’ for 3/31/22 – ‘EX-101.SCH’

On: Friday, 5/13/22, at 4:31pm ET · For: 3/31/22 · Accession #: 1410578-22-1480 · File #: 811-22778

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/13/22  Mill City Ventures III, Ltd.      10-Q        3/31/22   54:5.2M                                   Toppan Merrill/FA2

Quarterly Report — Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    765K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     21K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     21K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     18K 
10: R1          Document and Entity Information                     HTML     67K 
11: R2          Condensed Balance Sheets                            HTML     98K 
12: R3          Condensed Balance Sheets (Parenthetical)            HTML     23K 
13: R4          Condensed Statements of Operations (Unaudited)      HTML     77K 
14: R5          Condensed Statements of Shareholders Equity         HTML     42K 
                (Unaudited)                                                      
15: R6          Condensed Statements of Shareholders' Equity        HTML     17K 
                (Unaudited) (Parenthetical)                                      
16: R7          Condensed Statements of Cash Flows (Unaudited)      HTML     68K 
17: R8          Condensed Schedule of Investments                   HTML    106K 
18: R9          Organization                                        HTML     19K 
19: R10         Significant Accounting Policies                     HTML     36K 
20: R11         Investments                                         HTML     94K 
21: R12         Fair Value of Financial Instruments                 HTML    173K 
22: R13         Related-Party Transactions                          HTML     21K 
23: R14         Income Taxes                                        HTML     21K 
24: R15         Line of Credit                                      HTML     24K 
25: R16         Shareholders' Equity                                HTML     22K 
26: R17         Per-Share Information                               HTML     29K 
27: R18         Operating Leases                                    HTML     38K 
28: R19         Financial Highlights                                HTML     83K 
29: R20         Subsequent Events                                   HTML     19K 
30: R21         Significant Accounting Policies (Policies)          HTML     59K 
31: R22         Investments (Tables)                                HTML     95K 
32: R23         Fair Value of Financial Instruments (Tables)        HTML    175K 
33: R24         Per-Share Information (Tables)                      HTML     28K 
34: R25         Operating Leases (Tables)                           HTML     39K 
35: R26         Financial Highlights (Tables)                       HTML     82K 
36: R27         Organization (Details)                              HTML     17K 
37: R28         Significant Accounting Policies (Details)           HTML     22K 
38: R29         INVESTMENTS - Composition of our investments by     HTML     51K 
                major class (Details)                                            
39: R30         Fair Value of Financial Instruments (Details)       HTML     60K 
40: R31         Related-Party Transactions (Details)                HTML     31K 
41: R32         Income Taxes (Details)                              HTML     31K 
42: R33         LINE OF CREDIT - Additional Information (Details)   HTML     31K 
43: R34         Shareholders' Equity (Details)                      HTML     20K 
44: R35         Per-Share Information (Details)                     HTML     36K 
45: R36         OPERATING LEASES - Additional Information           HTML     22K 
                (Details)                                                        
46: R37         OPERATING LEASES - components of our operating      HTML     24K 
                lease (Details)                                                  
47: R38         OPERATING LEASES - Maturity analysis under lease    HTML     25K 
                agreements (Details)                                             
48: R39         Financial Highlights (Details)                      HTML     54K 
49: R40         Subsequent Events (Details)                         HTML     30K 
52: XML         IDEA XML File -- Filing Summary                      XML     91K 
50: XML         XBRL Instance -- mcvt-20220331x10q_htm               XML   1.41M 
51: EXCEL       IDEA Workbook of Financial Reports                  XLSX     58K 
 6: EX-101.CAL  XBRL Calculations -- mcvt-20220331_cal               XML     92K 
 7: EX-101.DEF  XBRL Definitions -- mcvt-20220331_def                XML    229K 
 8: EX-101.LAB  XBRL Labels -- mcvt-20220331_lab                     XML    725K 
 9: EX-101.PRE  XBRL Presentations -- mcvt-20220331_pre              XML    511K 
 5: EX-101.SCH  XBRL Schema -- mcvt-20220331                         XSD    112K 
53: JSON        XBRL Instance as JSON Data -- MetaLinks              231±   325K 
54: ZIP         XBRL Zipped Folder -- 0001410578-22-001480-xbrl      Zip    155K

‘EX-101.SCH’ — XBRL Schema — mcvt-20220331

This Exhibit is an XBRL XML File.

<?xml version="1.0" encoding="windows-1252"?>

<xsd:schema targetNamespace="http://www.millcityventures3.com/20220331" attributeFormDefault="unqualified" elementFormDefault="qualified" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:currency="http://xbrl.sec.gov/currency/2021" xmlns:us-roles="http://fasb.org/us-roles/2021-01-31" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:sic="http://xbrl.sec.gov/sic/2021" xmlns:us-types="http://fasb.org/us-types/2021-01-31" xmlns:srt-roles="http://fasb.org/srt-roles/2021-01-31" xmlns:stpr="http://xbrl.sec.gov/stpr/2021" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:us-gaap="http://fasb.org/us-gaap/2021-01-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:srt-types="http://fasb.org/srt-types/2021-01-31" xmlns:exch="http://xbrl.sec.gov/exch/2021" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:naics="http://xbrl.sec.gov/naics/2021" xmlns:country="http://xbrl.sec.gov/country/2021" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:attributeFormDefault="unqualified" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:srt="http://fasb.org/srt/2021-01-31" xmlns:enum2="http://xbrl.org/2020/extensible-enumerations-2.0" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2020-01-21" xmlns:deprecated="http://www.xbrl.org/2009/role/deprecated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:mcvt="http://www.millcityventures3.com/20220331" xmlns:dei="http://xbrl.sec.gov/dei/2021q4">

<xsd:annotation>

<xsd:appinfo>

<link:roleType roleURI="http://www.millcityventures3.com/role/StatementCondensedBalanceSheets" id="StatementCondensedBalanceSheets">

<link:definition> 00100 - Statement - CONDENSED BALANCE SHEETS </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/StatementCondensedStatementsOfOperationsUnaudited" id="StatementCondensedStatementsOfOperationsUnaudited">

<link:definition> 00200 - Statement - CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/StatementCondensedStatementsOfCashFlowsUnaudited" id="StatementCondensedStatementsOfCashFlowsUnaudited">

<link:definition> 00400 - Statement - CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureOperatingLeasesComponentsOfOurOperatingLeaseDetails" id="DisclosureOperatingLeasesComponentsOfOurOperatingLeaseDetails">

<link:definition> 41002 - Disclosure - OPERATING LEASES - components of our operating lease (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureOperatingLeasesMaturityAnalysisUnderLeaseAgreementsDetails" id="DisclosureOperatingLeasesMaturityAnalysisUnderLeaseAgreementsDetails">

<link:definition> 41003 - Disclosure - OPERATING LEASES - Maturity analysis under lease agreements (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/StatementCondensedStatementsOfShareholdersEquityUnaudited" id="StatementCondensedStatementsOfShareholdersEquityUnaudited">

<link:definition> 00300 - Statement - CONDENSED STATEMENTS OF SHAREHOLDERS EQUITY (UNAUDITED) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/StatementCondensedScheduleOfInvestments" id="StatementCondensedScheduleOfInvestments">

<link:definition> 00500 - Statement - CONDENSED SCHEDULE OF INVESTMENTS </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureSignificantAccountingPoliciesDetails" id="DisclosureSignificantAccountingPoliciesDetails">

<link:definition> 40201 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureInvestmentsCompositionOfOurInvestmentsByMajorClassDetails" id="DisclosureInvestmentsCompositionOfOurInvestmentsByMajorClassDetails">

<link:definition> 40301 - Disclosure - INVESTMENTS - Composition of our investments by major class (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureFairValueOfFinancialInstrumentsDetails" id="DisclosureFairValueOfFinancialInstrumentsDetails">

<link:definition> 40401 - Disclosure - FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureRelatedPartyTransactionsDetails" id="DisclosureRelatedPartyTransactionsDetails">

<link:definition> 40501 - Disclosure - RELATED-PARTY TRANSACTIONS (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureLineOfCreditAdditionalInformationDetails" id="DisclosureLineOfCreditAdditionalInformationDetails">

<link:definition> 40701 - Disclosure - LINE OF CREDIT - Additional Information (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureSubsequentEventsDetails" id="DisclosureSubsequentEventsDetails">

<link:definition> 41201 - Disclosure - SUBSEQUENT EVENTS (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DocumentDocumentAndEntityInformation" id="DocumentDocumentAndEntityInformation">

<link:definition> 00090 - Document - Document and Entity Information </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/StatementCondensedBalanceSheetsParenthetical" id="StatementCondensedBalanceSheetsParenthetical">

<link:definition> 00105 - Statement - CONDENSED BALANCE SHEETS (Parenthetical) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/StatementCondensedStatementsOfShareholdersEquityUnauditedParenthetical" id="StatementCondensedStatementsOfShareholdersEquityUnauditedParenthetical">

<link:definition> 00305 - Statement - CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureOrganization" id="DisclosureOrganization">

<link:definition> 10101 - Disclosure - ORGANIZATION </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureSignificantAccountingPolicies" id="DisclosureSignificantAccountingPolicies">

<link:definition> 10201 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureInvestments" id="DisclosureInvestments">

<link:definition> 10301 - Disclosure - INVESTMENTS </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureFairValueOfFinancialInstruments" id="DisclosureFairValueOfFinancialInstruments">

<link:definition> 10401 - Disclosure - FAIR VALUE OF FINANCIAL INSTRUMENTS </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureRelatedPartyTransactions" id="DisclosureRelatedPartyTransactions">

<link:definition> 10501 - Disclosure - RELATED-PARTY TRANSACTIONS </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureIncomeTaxes" id="DisclosureIncomeTaxes">

<link:definition> 10601 - Disclosure - INCOME TAXES </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureLineOfCredit" id="DisclosureLineOfCredit">

<link:definition> 10701 - Disclosure - LINE OF CREDIT </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureShareholdersEquity" id="DisclosureShareholdersEquity">

<link:definition> 10801 - Disclosure - SHAREHOLDERS' EQUITY </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosurePerShareInformation" id="DisclosurePerShareInformation">

<link:definition> 10901 - Disclosure - PER-SHARE INFORMATION </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureOperatingLeases" id="DisclosureOperatingLeases">

<link:definition> 11001 - Disclosure - OPERATING LEASES </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureFinancialHighlights" id="DisclosureFinancialHighlights">

<link:definition> 11101 - Disclosure - FINANCIAL HIGHLIGHTS </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureSubsequentEvents" id="DisclosureSubsequentEvents">

<link:definition> 11201 - Disclosure - SUBSEQUENT EVENTS </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureSignificantAccountingPoliciesPolicies" id="DisclosureSignificantAccountingPoliciesPolicies">

<link:definition> 20202 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES (Policies) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureInvestmentsTables" id="DisclosureInvestmentsTables">

<link:definition> 30303 - Disclosure - INVESTMENTS (Tables) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureFairValueOfFinancialInstrumentsTables" id="DisclosureFairValueOfFinancialInstrumentsTables">

<link:definition> 30403 - Disclosure - FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosurePerShareInformationTables" id="DisclosurePerShareInformationTables">

<link:definition> 30903 - Disclosure - PER-SHARE INFORMATION (Tables) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureOperatingLeasesTables" id="DisclosureOperatingLeasesTables">

<link:definition> 31003 - Disclosure - OPERATING LEASES (Tables) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureFinancialHighlightsTables" id="DisclosureFinancialHighlightsTables">

<link:definition> 31103 - Disclosure - FINANCIAL HIGHLIGHTS (Tables) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureOrganizationDetails" id="DisclosureOrganizationDetails">

<link:definition> 40101 - Disclosure - ORGANIZATION (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureIncomeTaxesDetails" id="DisclosureIncomeTaxesDetails">

<link:definition> 40601 - Disclosure - INCOME TAXES (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureShareholdersEquityDetails" id="DisclosureShareholdersEquityDetails">

<link:definition> 40801 - Disclosure - SHAREHOLDERS' EQUITY (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosurePerShareInformationDetails" id="DisclosurePerShareInformationDetails">

<link:definition> 40901 - Disclosure - PER-SHARE INFORMATION (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureOperatingLeasesAdditionalInformationDetails" id="DisclosureOperatingLeasesAdditionalInformationDetails">

<link:definition> 41001 - Disclosure - OPERATING LEASES - Additional Information (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureFinancialHighlightsDetails" id="DisclosureFinancialHighlightsDetails">

<link:definition> 41101 - Disclosure - FINANCIAL HIGHLIGHTS (Details) </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

<link:linkbaseRef xlink:type="simple" xlink:href="mcvt-20220331_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"/>

<link:linkbaseRef xlink:type="simple" xlink:href="mcvt-20220331_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"/>

<link:linkbaseRef xlink:type="simple" xlink:href="mcvt-20220331_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"/>

<link:linkbaseRef xlink:type="simple" xlink:href="mcvt-20220331_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"/>

<link:roleType roleURI="http://www.millcityventures3.com/role/DisclosureStandardAndCustomAxisDomainDefaults" id="DisclosureStandardAndCustomAxisDomainDefaults">

<link:definition> 99900 - Disclosure - Standard And Custom Axis Domain Defaults </link:definition>

<link:usedOn> link:presentationLink </link:usedOn>

<link:usedOn> link:calculationLink </link:usedOn>

<link:usedOn> link:definitionLink </link:usedOn>

</link:roleType>

</xsd:appinfo>

</xsd:annotation>

<xsd:import namespace="http://xbrl.sec.gov/dei/2021q4" schemaLocation="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd"/>

<xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd"/>

<xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>

<xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>

<xsd:import namespace="http://fasb.org/us-gaap/2021-01-31" schemaLocation="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd"/>

<xsd:import namespace="http://fasb.org/srt/2021-01-31" schemaLocation="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd"/>

<xsd:import namespace="http://www.xbrl.org/dtr/type/2020-01-21" schemaLocation="https://www.xbrl.org/dtr/type/2020-01-21/types.xsd"/>

<xsd:element name="Ms.ZbikowskiAlongWithHerHusbandScottZbikowskiMember" id="mcvt_Ms.ZbikowskiAlongWithHerHusbandScottZbikowskiMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="RelatedPartyTransactionSharesOfCommonStockOwned" id="mcvt_RelatedPartyTransactionSharesOfCommonStockOwned" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false"/>

<xsd:element name="RelatedPartyTransactionPromissoryNoteTerm" id="mcvt_RelatedPartyTransactionPromissoryNoteTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="RelatedPartyTransactionPrincipalAmountOfNoteObtained" id="mcvt_RelatedPartyTransactionPrincipalAmountOfNoteObtained" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit"/>

<xsd:element name="RelatedPartyTransactionInterestRate" id="mcvt_RelatedPartyTransactionInterestRate" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="RelatedPartyTransactionDebtorsPledgeInNumberOfCommonStock" id="mcvt_RelatedPartyTransactionDebtorsPledgeInNumberOfCommonStock" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false"/>

<xsd:element name="ValuationOfInvestmentsPolicyTextBlock" id="mcvt_ValuationOfInvestmentsPolicyTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="OurValuationPolicyAndProceduresPolicyTextBlock" id="mcvt_OurValuationPolicyAndProceduresPolicyTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="AllocationOfNetGainsAndLossesPolicyTextBlock" id="mcvt_AllocationOfNetGainsAndLossesPolicyTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="InterestAndDividendsReceivable" id="mcvt_InterestAndDividendsReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit"/>

<xsd:element name="InvestmentCompanyNetAssetsPeriodIncreaseDecreaseBeforeIncomeTaxes" id="mcvt_InvestmentCompanyNetAssetsPeriodIncreaseDecreaseBeforeIncomeTaxes" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit"/>

<xsd:element name="AccumulatedUndistributedNetInvestmentLossMember" id="mcvt_AccumulatedUndistributedNetInvestmentLossMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="AccumulatedUndistributedNetRealizedGainOnInvestmentsTransactionsMember" id="mcvt_AccumulatedUndistributedNetRealizedGainOnInvestmentsTransactionsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="NetUnrealizedAppreciationDepreciationInValueOfInvestmentsMember" id="mcvt_NetUnrealizedAppreciationDepreciationInValueOfInvestmentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="PaymentsToPurchaseInvestments" id="mcvt_PaymentsToPurchaseInvestments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit"/>

<xsd:element name="ProceedsFromSaleOfInvestments" id="mcvt_ProceedsFromSaleOfInvestments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit"/>

<xsd:element name="IncreaseDecreaseInReceivableForInvestmentSales" id="mcvt_IncreaseDecreaseInReceivableForInvestmentSales" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit"/>

<xsd:element name="IncreaseDecreaseInPayableForInvestmentPurchase" id="mcvt_IncreaseDecreaseInPayableForInvestmentPurchase" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit"/>

<xsd:element name="CondensedScheduleOfInvestmentsAbstract" id="mcvt_CondensedScheduleOfInvestmentsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="ShortTermBankingLoansMember" id="mcvt_ShortTermBankingLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="OtherEquitySecuritiesMember" id="mcvt_OtherEquitySecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="TwelvePercentSecuredLoansMember" id="mcvt_TwelvePercentSecuredLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="TwentyThreePercentSecuredLoansMember" id="mcvt_TwentyThreePercentSecuredLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="FifteenPercentSecuredLoansMember" id="mcvt_FifteenPercentSecuredLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="LitigationFinancingMember" id="mcvt_LitigationFinancingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="BentonFinancialLlcMember" id="mcvt_BentonFinancialLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="AlatusDevelopmentLlcMember" id="mcvt_AlatusDevelopmentLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="TailwindsLlcMember" id="mcvt_TailwindsLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="OtherMember" id="mcvt_OtherMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="CashAndCashEquivalentsPercentOfNetAssets" id="mcvt_CashAndCashEquivalentsPercentOfNetAssets" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="InvestmentsAndCashCost" id="mcvt_InvestmentsAndCashCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit"/>

<xsd:element name="InvestmentsAndCashFairValue" id="mcvt_InvestmentsAndCashFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit"/>

<xsd:element name="InvestmentsAndCashPercentageOfNetAssets" id="mcvt_InvestmentsAndCashPercentageOfNetAssets" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="InvestmentHoldingsScheduleOfInvestmentsIndustryGroupingTableTextBlock" id="mcvt_InvestmentHoldingsScheduleOfInvestmentsIndustryGroupingTableTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="PercentageOfAmortizedCost" id="mcvt_PercentageOfAmortizedCost" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="PercentageOfFairValue" id="mcvt_PercentageOfFairValue" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="InvestmentCompanyProvisionForIncomeTaxesPerShare" id="mcvt_InvestmentCompanyProvisionForIncomeTaxesPerShare" type="dtr-types:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="MarketValueOfInvestmentsPerShare" id="mcvt_MarketValueOfInvestmentsPerShare" type="dtr-types:perShareItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false"/>

<xsd:element name="AverageAssetsNet" id="mcvt_AverageAssetsNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit"/>

<xsd:element name="InvestmentCompanyPortfolioTurnoverRate" id="mcvt_InvestmentCompanyPortfolioTurnoverRate" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="InvestmentCompanyRealizedGainsLossesRatio" id="mcvt_InvestmentCompanyRealizedGainsLossesRatio" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="NumberOfNonCancelableOperatingLeases" id="mcvt_NumberOfNonCancelableOperatingLeases" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="NetIncreaseDecreaseInNetAssetsFromOperations" id="mcvt_NetIncreaseDecreaseInNetAssetsFromOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit"/>

<xsd:element name="InvestmentCompanyNetIncreaseDecreaseInNetAssetsFromOperations" id="mcvt_InvestmentCompanyNetIncreaseDecreaseInNetAssetsFromOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit"/>

<xsd:element name="CrossLawFirmLlcMember" id="mcvt_CrossLawFirmLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="ProfessionalFeesNet" id="mcvt_ProfessionalFeesNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="debit"/>

<xsd:element name="NetChangeInUnrealizedAppreciationDepreciationOnInvestments" id="mcvt_NetChangeInUnrealizedAppreciationDepreciationOnInvestments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit"/>

<xsd:element name="PayableForPurchaseOfInvestments" id="mcvt_PayableForPurchaseOfInvestments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit"/>

<xsd:element name="MaximumPercentageOfTotalAssetsInvestmentSecurities" id="mcvt_MaximumPercentageOfTotalAssetsInvestmentSecurities" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false"/>

<xsd:element name="AirdogSuppliesIncMember" id="mcvt_AirdogSuppliesIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="InvestmentCompanyDistributableEarningsLossAccumulatedCapitalGainLoss" id="mcvt_InvestmentCompanyDistributableEarningsLossAccumulatedCapitalGainLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit"/>

<xsd:element name="FiftyTwoPercentSecuredLoansMember" id="mcvt_FiftyTwoPercentSecuredLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="LoanAndSecurityAgreementMember" id="mcvt_LoanAndSecurityAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="WisdomGamingIncMember" id="mcvt_WisdomGamingIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="IntelligentMappingLlcMember" id="mcvt_IntelligentMappingLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="FortyEightPercentSecuredLoansMember" id="mcvt_FortyEightPercentSecuredLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="ThirtyThreePercentSecuredLoansMember" id="mcvt_ThirtyThreePercentSecuredLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="EastmanInvestmentIncMember" id="mcvt_EastmanInvestmentIncMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="FederalAndStateTaxPayment" id="mcvt_FederalAndStateTaxPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="credit"/>

<xsd:element name="LeasePaymentLessInterest" id="mcvt_LeasePaymentLessInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" abstract="false" xbrli:balance="debit"/>

<xsd:element name="GainLossOnEquityInvestments" id="mcvt_GainLossOnEquityInvestments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit"/>

<xsd:element name="GainLossesOnSaleOfEquityInvestments" id="mcvt_GainLossesOnSaleOfEquityInvestments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="false" xbrli:balance="credit"/>

<xsd:element name="VillasAtSeventyNineLlcMember" id="mcvt_VillasAtSeventyNineLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="ThreeIndependentDirectorsMember" id="mcvt_ThreeIndependentDirectorsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

<xsd:element name="TwoNonIndependentDirectorsMember" id="mcvt_TwoNonIndependentDirectorsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" abstract="true"/>

</xsd:schema>

2 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/23/13  Mill City Ventures III, Ltd.      8-K:5,7,9   1/17/13    3:37K                                    Toppan Merrill/FA
 1/29/08  Mill City Ventures III, Ltd.      10SB12G                6:1.3M                                   Toppan Merrill/FA

↑Top

Filing Submission 0001410578-22-001480 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Mill City Ventures III, Ltd. – ‘10-Q’ for 3/31/22 – ‘EX-101.SCH’

On: Friday, 5/13/22, at 4:31pm ET · For: 3/31/22 · Accession #: 1410578-22-1480 · File #: 811-22778

Previous ‘10-Q’: ‘10-Q’ on 11/12/21 for 9/30/21 · Next: ‘10-Q’ on 8/15/22 for 6/30/22 · Latest: ‘10-Q’ on 5/15/24 for 3/31/24 · 2 References: To: Mill City Ventures III, Ltd. – ‘8-K’ on 1/23/13 for 1/17/13 To: Mill City Ventures III, Ltd. – ‘10SB12G’ on 1/29/08

Quarterly Report — Form 10-QFiling Table of Contents

‘EX-101.SCH’ — XBRL Schema — mcvt-20220331

This Exhibit is an XBRL XML File.

2 Previous Filings that this Filing References

Previous ‘10-Q’: ‘10-Q’ on 11/12/21 for 9/30/21 · Next: ‘10-Q’ on 8/15/22 for 6/30/22 · Latest: ‘10-Q’ on 5/15/24 for 3/31/24 · 2 References:

Quarterly Report — Form 10-Q

Filing Table of Contents