Daily News: August 14, 2017

Webster, Flushing Provide $5MM Manhattan Bridge Upsize

Manhattan Bridge Capital amended its credit and security agreement with Webster Business Credit and Flushing Bank.

The company’s existing line of credit with Webster was amended to include Flushing as an additional lender and the funds available under the credit line were increased by $5 million to $20 million in the aggregate.

In conjunction with the execution of the credit agreement, Manhattan Bridge also entered into a revolving credit note in the principal aggregate amount of $5 million with Flushing and an amended and restated fee letter with Webster, each dated August 8, 2017.