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  • Writer's pictureMAREJ

Progress Capital handles financing for New Jersey restaurant expansion

SEA BRIGHT, NJ — It was just a year ago that the vacant Sea Bright post office building destroyed during Hurricane Sandy was transformed to Tommy’s Tavern + Tap, a rustic industrial style restaurant and bar. Since their opening, the crowds continue to flow no matter the season.

Due to the popularity of this family friendly hot spot, an expansion will now commence, made possible with financing from Two River Community Bank, arranged by Progress Capital Advisors, both headquartered in Tinton Falls, NJ. The expansion will include a much need parking area as well as completion of the second story level to accommodate private parties and events. Bill Howard and Jake Mauro of Progress Capital arranged the financing with Two River Community Bank. “It was a pleasure working with both Bill and Jake from Progress Capital and Tom Garrity from Two River Community Bank. Everyone involved enthusiastically embraced our concept and worked quickly and efficiently to achieve our financial goals. Not only were my expectations met, they were exceeded”, said Tommy Bonfiglio, owner of Tommy’s Tavern & Tap in Sea Bright. Progress Capital specializes in arranging fixed rate loans, construction and specialty financing as well as directly funded bridge loans.

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