Manhattan Bridge Capital, Inc. Announces Geographic Expansion
May 17 2019 - 7:00AM
Manhattan Bridge Capital, Inc. (Nasdaq: LOAN)
On May 16, 2019, the Board of Directors of
Manhattan Bridge Capital, Inc. authorized its management to take
all necessary actions to permit the Company to explore expanding
its lending operations in the States of Florida, New Jersey and
Connecticut.
Assaf Ran, Chairman of the Board and CEO,
stated, “As we believe that conditions matured, the Company will
begin to explore funding opportunities in Florida, New Jersey and
Connecticut. Rest assured that our conservative standards will not
be compromised and that we will take all measures in order to
continue our impressive track record of no defaults.”
“On another note: this week on Monday the
Company celebrated its 20th Listing Anniversary with the Nasdaq
Stock Market. I want to take the opportunity to thank the Nasdaq
team for the dedicated and warm relationships,” added Mr. Ran.
About Manhattan Bridge Capital,
Inc.
Manhattan Bridge Capital, Inc. offers short-term
secured, non–banking loans (sometimes referred to as ‘‘hard money’’
loans) to real estate investors to fund their acquisition,
renovation, rehabilitation or improvement of properties located in
the New York metropolitan area. We operate the web site:
https://www.manhattanbridgecapital.com.
Forward Looking Statements
This press release and the statements of our
representatives related thereto contain or may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements that are not
statements of historical fact may be deemed to be forward-looking
statements. Without limiting the generality of the foregoing, words
such as “plan,” “project,” “potential,” “seek,” “may,” “will,”
“expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,”
or “continue” are intended to identify forward-looking statements.
For example, when we discuss that our conservative standards will
not be compromised in the new geographic areas where we intend to
expand our lending operations and that we will take all measures in
order to continue our impressive track record of no defaults, we
are using forward-looking statements. Readers are cautioned that
certain important factors may affect the Company’s actual results
and could cause such results to differ materially from any
forward-looking statements that may be made in this news release.
Forward-looking statements are not guarantees of future performance
and involve risks and uncertainties. Actual results may differ
materially from those projected, expressed or implied in the
forward-looking statements as a result of various factors,
including but not limited to the following: (i) our loan
origination activities, revenues and profits are limited by
available funds; (ii) we operate in a highly competitive market and
competition may limit our ability to originate loans with favorable
interest rates; (iii) our Chief Executive Officer is critical to
our business and our future success may depend on our ability to
retain him; (iv) if we overestimate the yields on our loans or
incorrectly value the collateral securing the loan, we may
experience losses; (v) we may be subject to “lender liability”
claims; (vi) our due diligence may not uncover all of a borrower’s
liabilities or other risks to its business; (vii) borrower
concentration could lead to significant losses; and (viii) we may
choose to make distributions in our own stock, in which case
stockholders may be required to pay income taxes in excess of the
cash dividends you receive. The risk factors contained in our
Annual Report on Form 10-K for the fiscal year ended December 31,
2018 filed with the Securities and Exchange Commission identify
important factors that could cause such differences. These
forward-looking statements speak only as of the date of this press
release, and we caution potential investors not to place undue
reliance on such statements. We undertake no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
SOURCE: Manhattan Bridge Capital, Inc.
A photo accompanying this announcement is
available
at: http://www.globenewswire.com/NewsRoom/AttachmentNg/b8cd6a05-9ddc-437b-9248-f00423a61daf
Contact:
Assaf Ran, CEO
(516) 444-3400
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