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Manhattan Bridge Capital Inc
Sure, I'll provide general information about Manhattan Bridge Capital, a publicly traded company listed on the US stock exchange.
Manhattan Bridge Capital, also known as MBC, is a real estate finance company specializing in hard money lending. They provide short-term, secured loans to real estate investors and developers for the acquisition, rehabilitation, and development of commercial and residential properties.
Manhattan Bridge Capital was founded in 2007 and is headquartered in New York City. The company is publicly traded on the over-the-counter bulletin board (OTCBB) under the ticker symbol "LOAN".
Manhattan Bridge Capital's primary business is providing short-term, high-interest loans (typically between 8% and 12% annually) to real estate investors and developers. These loans are usually collateralized by the property being rehabilitated or developed, and they typically have terms of one to three years.
The company's focus is on financing projects in the New York City area and the surrounding region. However, they do provide loans for projects in other states such as Florida, Connecticut, New Jersey, and Pennsylvania.
Richard L. J anni, the CEO, is the driving force behind Manhattan Bridge Capital's achievements. The company's total revenue for the third quarter of 2022 was $ 19.4 million, with net income of $3.9 million. Their total equity is $38.9 million, and their asset portfolio is nearly one billion dollars.
Manhattan Bridge Capital is a leader in providing real estate-backed loans, using their expertise to secure steady returns, minimal risk, and stable yields in the real estate industry. Their reputation as a reliable lender is built on their track record of successfully funding and exiting loans. Borrowers appreciate their ability to provide expeditious responses, meet tight deadlines, and fund loans quickly. This has enabled Manhattan Bridge Capital to establish a solid reputation in the real estate finance sector.
In conclusion, Manhattan Bridge Capital, a publicly traded company on the US stock exchange, specializes in providing real estate-backed loans. They provide short-term, high-interest loans to real estate investors and developers, focusing on projects in the New York City area. With a reputation for reliability and timely funding, they have built a solid reputation in the real estate finance sector. Their leading position has contributed to their success, making them a company worth considering for investors looking for exposure to the real estate finance industry.