Manhattan Bridge Capital Reports 12% Revenue Decline in Q3 2025

Manhattan Bridge Capital, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of approximately $2.036 million, a decrease of 12% from $2.313 million in the same period last year. For the nine months ending September 30, 2025, total revenue was approximately $6.665 million, down 9.1% from $7.329 million in the prior year. The decline in revenue was primarily attributed to lower interest income and reduced origination fees, which were impacted by a slowdown in new loan originations. Interest income from loans decreased to $1.770 million for the quarter, compared to $1.953 million in 2024, while origination fees fell to $265,376 from $360,376.

The company's net income for the third quarter of 2025 was approximately $1.202 million, down 14.1% from $1.399 million in the same quarter of 2024. For the nine-month period, net income was approximately $3.988 million, a decrease of 6.9% from $4.285 million in the previous year. The decrease in net income was primarily due to the decline in revenue, although this was partially offset by a reduction in interest expenses, which fell to $422,000 from $537,000 in the prior year, reflecting lower borrowing costs associated with the Webster Credit Line.

As of September 30, 2025, Manhattan Bridge Capital's total assets were approximately $59.989 million, down from $67.361 million at the end of 2024. Loans receivable decreased to $57.961 million from $65.406 million, while cash increased slightly to $186,435 from $178,012. The company’s liabilities also decreased significantly, with total liabilities at $16.672 million compared to $24.096 million at the end of the previous fiscal year. The reduction in liabilities was primarily due to a decrease in the line of credit, which fell to $9.050 million from $16.428 million.

Operationally, the company continues to focus on its core business of providing short-term, secured loans to real estate investors in the New York metropolitan area and Florida. As of September 30, 2025, Manhattan Bridge Capital had committed $4.871 million in construction loans that can be drawn by borrowers when certain conditions are met. The company has maintained a stable employee headcount and continues to rely on repeat business from prior customers, which constitutes a significant source of new transactions.

Looking ahead, Manhattan Bridge Capital remains optimistic about its growth prospects, citing favorable market conditions for small real estate loans. The company plans to continue selectively originating high-quality first mortgage loans while managing its portfolio to generate attractive risk-adjusted returns. The management believes that the current demand-supply imbalance in the market will persist, providing opportunities for growth. However, the company also acknowledges potential risks, including competition and market conditions that could impact loan origination activities and profitability.