Daily News: February 5, 2013

Sterling Bank Increases Manhattan Bridge Revolver


Manhattan Bridge Capital announced that its revolving line of credit with Sterling National Bank was increased to up to $5 million, $1.5 million more than the previous limit.

The company said the terms of the increased line are similar to the terms of the original line established on May 2, 2012.

Assaf Ran, chairman of the board and CEO stated, “This increase is excellent news for the Company. It will allow us to continue our solid and consistent growth.”

Manhattan Bridge Capital offers short-term, secured, nonbanking or “hard money” loans to real estate investors in the New York Metropolitan area.