Manhattan Bridge Capital, Inc. reported its financial results for the first quarter of 2026, revealing a total revenue of approximately $2.07 million, a decrease of 9.1% from $2.27 million in the same period of 2025. The decline in revenue was primarily attributed to lower interest income from loans, which fell to $1.70 million from $1.83 million year-over-year, alongside a reduction in origination fees from $439,799 to $368,314. The company's net income for the quarter was approximately $1.27 million, down 7.2% from $1.37 million in the prior year, reflecting the impact of decreased revenue despite a reduction in operating costs.
In terms of operational metrics, Manhattan Bridge Capital's loans receivable increased to $61.94 million as of March 31, 2026, compared to $60.22 million at the end of 2025. The company’s total assets rose to $64.26 million from $62.35 million, driven by an increase in loans receivable and interest receivable. The company maintained a strong liquidity position, with cash and restricted cash totaling approximately $205,669, slightly down from $223,132 a year earlier. The company’s total liabilities also increased, reaching $21.15 million, up from $19.25 million, primarily due to higher lines of credit.
Strategically, Manhattan Bridge Capital has continued to focus on its core business of providing short-term, secured loans to real estate investors in the New York metropolitan area and Florida. The company has been actively managing its loan portfolio, with no impairments reported as of the end of the quarter. The company’s credit risk profile remains stable, with a significant portion of its loans secured by real estate and personal guarantees from borrowers. The company has also extended its credit facility with Webster Bank, enhancing its borrowing capacity and extending the maturity of the credit line to February 2029.
Looking ahead, Manhattan Bridge Capital expressed optimism about its growth prospects, citing favorable market conditions for small real estate loans. The company plans to continue selectively originating loans while managing its portfolio to generate attractive risk-adjusted returns. The management believes that the current demand-supply imbalance in the market presents opportunities for growth, and they are committed to maintaining their disciplined credit and due diligence practices. The company also announced a cash dividend of $0.11 per share, reflecting its ongoing commitment to returning value to shareholders.
About MANHATTAN BRIDGE CAPITAL, INC
Manhattan Bridge Capital, Inc. is a New York-based real estate finance company specializing in originating, servicing, and managing short-term, secured first mortgage loans on residential and commercial properties. Focused on the New York metropolitan area and Florida, it offers flexible, quick-structured loans to real estate investors, emphasizing capital preservation and attractive risk-adjusted returns through disciplined underwriting and long-standing borrower relationships.
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