Business Context and Reporting Period
Manhattan Bridge Capital, Inc. (LOAN) filed a Form 8-K on February 24, 2026, reporting the entry into a material definitive agreement. The company is incorporated in New York and trades on the Nasdaq Capital Market.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity metrics. The document focuses exclusively on a specific debt restructuring event.
- Debt Instrument: Second Amended and Restated Revolving Credit Note with Webster Bank, National Association.
- Principal Amount: Increased from $15,000,000 to $22,500,000.
- Credit Facility Term: Extended through March 31, 2026.
Material Changes
The primary material change involves the amendment of the Amended and Restated Credit and Security Agreement dated February 24, 2026. Key changes include:
- Lender Departure: Mizrahi Tefahot Bank Ltd. exited as a lender under the agreement.
- Commitment Reallocation: Revolving commitments were reallocated among remaining lenders to account for the departure.
- Webster Bank Increase: Webster Bank's commitment was increased via a new note to $22,500,000, replacing the previous $15,000,000 note.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard incorporation by reference of the full amendment text. The document notes that the summary is qualified in its entirety by reference to the full text of the Amendment and the Webster Note attached as exhibits.
Investor Verification Checklist
- Verify the full terms of the Amendment No. 9 to the Credit and Security Agreement (Exhibit 10.1).
- Review the Second Amended and Restated Revolving Credit Note (Exhibit 10.2) for interest rates, fees, and covenants associated with the increased $22.5 million principal.
- Confirm the impact of Mizrahi Tefahot Bank Ltd.'s departure on the company's overall liquidity and borrowing capacity.
- Check for any subsequent filings regarding the utilization of the extended credit facility through the March 31, 2026 maturity date.