Key Highlights

  • Manhattan Bridge Capital (NASDAQ:LOAN) reported third-quarter EPS of USD 0.11 on Wednesday, October 21, 2026, matching the consensus estimate of USD 0.11 and the USD 0.11 earned a year earlier.
  • Revenue rose 0.9% to about USD 2.05 million as origination fees climbed about 47.6% to USD 391,662, offsetting a 6.1% fall in interest income to USD 1.66 million.
  • Net income rose 3.0% to USD 1.24 million, helped by interest expense falling to USD 369,477 from USD 421,980, while general and administrative costs rose to USD 447,275.
  • Nine-month net income fell 8.1% to USD 3.67 million, and Chief Executive Officer Assaf Ran said intense competition has kept hard money lending rates from rising much.

Fees Offset Lower Interest Income

Manhattan Bridge Capital (NASDAQ:LOAN), a Great Neck, New York-based provider of short-term secured real estate loans, often called hard money loans, reported third-quarter results at 4:35 p.m. ET on Wednesday, October 21, 2026. Basic and diluted EPS was USD 0.11, matching the consensus estimate of USD 0.11 and the prior-year figure. Total revenue was USD 2,053,558, against USD 2,035,753 a year earlier. Interest income from loans fell to USD 1,661,896 from USD 1,770,377, while origination fees rose to USD 391,662 from USD 265,376. Net income was USD 1,238,462, up 3.0%. For the nine months, revenue fell 7.5% to USD 6.17 million and EPS was USD 0.32, against USD 0.35. Net loans receivable were USD 59.5 million at September 30, 2026.

Why Competition Caps Hard Money Yields

Manhattan Bridge Capital (NASDAQ:LOAN) earns interest on short-term loans to property investors and charges origination fees when loans are made, funding part of the book with a credit line. The company said interest income fell because borrower rates were lower amid competition, even though the number of loans and the capital deployed rose. Chairman and Chief Executive Officer Assaf Ran said "The increasing interest rate environment is raising pressure on the real estate markets", but added that hard money rates had not risen much because of intense competition. That combination can squeeze the lending spread if funding costs climb while loan yields lag. This quarter, lower interest expense of USD 369,477 and higher fees supported net income, partly offset by general and administrative costs of USD 447,275.

Risks and What to Watch

The first risk for Manhattan Bridge Capital (NASDAQ:LOAN) is yield pressure, since competition has held down rates on new loans while the Federal Reserve raised its target range to 3.75% to 4.00% on Wednesday, September 16, 2026. The second is property credit, as Assaf Ran pointed to rising pressure on real estate markets. The third is scale: a loan book of about USD 59.5 million, financed partly by a credit line with USD 17.0 million drawn, leaves earnings sensitive to individual loans. Dividends declared in the quarter totalled USD 1,250,834, close to net income of USD 1,238,462. The board amended the buyback on Thursday, October 8, 2026 to allow up to 250,000 shares through Friday, October 8, 2027. Investors should watch fourth-quarter fee income and the next dividend declaration.

Where Things Stand

The answer is that Manhattan Bridge Capital (NASDAQ:LOAN) held EPS at USD 0.11 because higher origination fees and lower interest expense offset a 6.1% drop in interest income. The result matched the consensus estimate, but nine-month EPS of USD 0.32 trails USD 0.35 a year earlier as competition keeps loan rates down. Dividends absorbed nearly all quarterly net income. The next catalysts are the next dividend declaration, buyback use and fourth-quarter results. Dividends are not guaranteed, and this is not investment advice.