Manhattan Bridge Capital Reports Q2 2026 Revenue Decline of 13.2% to $2.05 Million

Manhattan Bridge Capital, Inc. reported its financial results for the second quarter of 2026, revealing a total revenue of approximately $2.05 million, a decrease of 13.2% from $2.36 million in the same period of 2025. For the first half of 2026, total revenue was approximately $4.11 million, down 11.1% from $4.63 million in the prior year. The decline in revenue was attributed to lower interest rates and origination fees due to increased competition in the market, as well as approximately $91,000 in discretionary credits granted to borrowers during the period.

The company's net income for the second quarter of 2026 was approximately $1.15 million, compared to $1.41 million in the same quarter of 2025, marking an 18.4% decrease. For the six-month period, net income was approximately $2.43 million, down 12.9% from $2.79 million in the previous year. The decrease in net income was primarily driven by reduced revenue, although this was partially offset by lower interest expenses, which fell to approximately $399,000 from $506,000 year-over-year.

In terms of operational metrics, Manhattan Bridge Capital's loans receivable increased to approximately $61.77 million as of June 30, 2026, compared to $60.22 million at the end of 2025. The company reported a total of $29 million in loans issued during the first half of 2026, with collections amounting to approximately $27.3 million. The company remains committed to $3.93 million in construction loans that can be drawn by borrowers when conditions are met. As of June 30, 2026, the company had no borrower or group of affiliated borrowers with loans outstanding representing more than 10% of its total loan portfolio.

Manhattan Bridge Capital continues to maintain a strong liquidity position, with cash and restricted cash totaling approximately $256,547 as of June 30, 2026, compared to $209,642 a year earlier. The company has also amended its credit agreements to extend the maturity of its credit facilities, providing a total borrowing capacity of $32.5 million under the Webster Credit Line and $10 million under the Valley Credit Line. The company remains in compliance with all covenants under these credit lines and anticipates that its current cash balances and available borrowings will be sufficient to fund operations for at least the next 12 months. Looking ahead, Manhattan Bridge Capital aims to continue growing its loan portfolio while managing risks and capital preservation, capitalizing on favorable market conditions for real estate loans.