Manhattan Bridge Capital, Inc. reported its financial results for the second quarter of 2025, revealing total revenues of approximately $2.36 million, a decrease of 3.6% from $2.44 million in the same period of 2024. The decline in revenue was primarily driven by a reduction in interest income from loans, which fell to $1.90 million from $2.03 million year-over-year. However, origination fees increased to $455,833 from $410,528, partially offsetting the overall revenue decline. For the six months ended June 30, 2025, total revenue was approximately $4.63 million, down 7.7% from $5.02 million in the prior year.
The company's net income for the second quarter was approximately $1.41 million, slightly up from $1.41 million in the same quarter of 2024. For the first half of 2025, net income totaled approximately $2.79 million, compared to $2.89 million in the previous year, reflecting a decrease of 3.4%. The company attributed the decline in net income primarily to lower interest income, although this was somewhat mitigated by reduced interest expenses, which decreased to $506,250 from $603,230 in the second quarter of 2024.
In terms of operational metrics, Manhattan Bridge Capital's loans receivable stood at approximately $65.22 million as of June 30, 2025, a slight decrease from $65.41 million at the end of 2024. The company reported a total of $23.5 million in loans issued during the first half of 2025, compared to $19.68 million in the same period of 2024. The company remains committed to $6.29 million in construction loans that can be drawn by borrowers when certain conditions are met. The company has maintained a stable employee headcount, with no significant changes reported.
Looking ahead, Manhattan Bridge Capital expressed confidence in its ability to extend its existing credit line with Webster Business Credit Corporation, which currently provides a credit line of $32.5 million until February 2026. The company plans to refinance its 6% senior secured notes, which are due in April 2026, although it acknowledged the uncertainty surrounding the terms of such refinancing. The management remains optimistic about the demand for short-term, secured loans in the New York metropolitan area and intends to continue selectively originating loans to capitalize on favorable market conditions.
About MANHATTAN BRIDGE CAPITAL, INC
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