Main Street Registry

Alam & Mema Realty LLC and Mema & Alam Inc

Millis, MA · Limited-Service Restaurants · NAICS 722513

Alam & Mema Realty LLC and Mema & Alam Inc, located in Millis, Massachusetts, operates in the limited-service restaurants industry (NAICS 722513). The company was financed with an SBA 7(a) loan for a change of ownership of $1,664,000, approved on December 10, 2024, through Northwest Bank.

SBA 7(a) loan, change of ownership, approved Dec 10, 2024

$1,664,000 approvedLender: Northwest Bank17 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,664,000
SBA-guaranteed amount
$1,248,000 (75% of the approval)
Lender
Northwest Bank, Warren, PA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
17 years (204 months)
Estimated maturity
December 10, 2041 (estimated, approval date plus term)
Estimated monthly payment
$17,257 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
Norfolk County, MA
SBA district office
Massachusetts District Office
Congressional district
MA-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 77% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Massachusetts: $1,643,977.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Massachusetts