Manhattan Bridge Capital reports Q2 revenue decline amid increased competition
Manhattan Bridge Capital, Inc. reported second quarter 2026 revenue of approximately $2.045 million, a 13.2% decrease year-over-year. Lower interest rates and increased market competition contributed to the decline.
GREAT NECK, N.Y. – Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) announced its second quarter results on July 23, 2026. The company's total revenue for the three months ended June 30, 2026, was approximately $2.045 million, a 13.2% decrease from $2.355 million in the same period of 2025. Despite the revenue decrease, the company reported an increase in both the number of loans originated and the amount of capital deployed.
The decline in revenue was primarily attributed to lower interest rates and origination fees charged to borrowers, driven by increased competition in the marketplace. Additionally, the company granted approximately $85,000 in discretionary credits for payoffs and refinancings to certain borrowers during the quarter. Interest income on secured commercial loans to real estate investors constituted the majority of revenue at $1.738 million, with origination fees contributing $307,000.
Net income for the second quarter decreased by 18.4% to approximately $1.153 million, or $0.10 per share, compared to $1.413 million, or $0.12 per share, in the prior year's second quarter. This reduction was mainly due to lower revenues, partially offset by reduced interest expenses.
For the first six months of 2026, total revenue fell 11.1% to $4.113 million compared to the same period in 2025. Similar factors of decreased rates and increased competition impacted the results. The company also continued its share repurchase program, acquiring 6,942 shares during the first half of the year.