Main Street Registry

Original Mulligan's Restaurant and Grill

Farmingdale, NJ · Full-Service Restaurants · NAICS 722511

Original Mulligan's Restaurant and Grill, located in Farmingdale, New Jersey, operates in the full-service restaurants industry (NAICS 722511). The business was financed with an SBA 7(a) loan for a change of ownership totaling $1.6 million, approved by Beacon Bank and Trust on September 20, 2024.

SBA 7(a) loan, change of ownership, approved Sep 20, 2024

$1,600,000 approvedLender: Beacon Bank and Trust25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,600,000
SBA-guaranteed amount
$1,200,000 (75% of the approval)
Lender
Beacon Bank and Trust, Brookline, MA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.75%, variable
Term
25 years (300 months)
Estimated maturity
September 20, 2049 (estimated, approval date plus term)
Estimated monthly payment
$15,393 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
37
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Monmouth County, NJ
SBA district office
New Jersey District Office
Congressional district
NJ-04
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 76% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in New Jersey: $1,626,307.

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 New Jersey