Daily News: May 8, 2012

Sterling Provides $3.5 Million to Manhattan Bridge Capital

Manhattan Bridge Capital, Inc. announced that it has entered into a line of credit agreement with Sterling National Bank pursuant to which the bank has agreed to advance up to $3.5 million against assignments of mortgages and other collateral.

Assaf Ran, chairman of the Board and CEO, stated, “This is a very important day for the company. We achieved a milestone by arranging a relatively low cost source of funding which is essential for continued growth of the company.”