Whether you are an established business or a startup, Eastern’s lending professionals can tailor a competitively priced loan program to help your company grow.

As a preferred SBA lender in Massachusetts, our commitment is to the communities we serve. We help you get the funding you need with the personal service you want.

No matter what your business need, Eastern has a loan product to fit the bill:

SBA Loans
Starting a new business? Loans backed by the Small Business Administration can be used for startup costs, equipment purchases, capital improvements, and permanent working capital. SBA loans offer longer terms and lower down payments than conventional term loans, making them an affordable solution. And our preferred lender status allows us to significantly speed up the loan approval process.

Lines of Credit
If you are already in business, you may benefit from a line of credit to meet your short-term funding needs. Use it for facility renovations, equipment purchases, additional working capital, seasonal cash flow, or to finance inventory purchases up to $1 million.

For customers that are expanding their business and may not have sufficient business assets to fully collateralize their loan, we offer a “Ready-Cash” Line of Credit where a second mortgage on your primary residence may be used as a subordinate source of repayment.

Cash Reserve
Gain instant access to the money you need and automatic protection against expensive overdrafts with a Cash Reserve Line of Credit that works with your Eastern Bank checking account. Draw on the line simply by writing a check in an amount that exceeds your account balance or access your Cash Reserve account directly via an ATM. Business Cash Reserve lines are available up to $10,000.

Term Loan
A traditional business loan can help you purchase equipment, make capital improvements, refinance existing debt, or supplement your permanent working capital. Both fixed and variable interest rates are available. Term loans are available from $10,000 to $1,000,000. The assets purchased can generally be used to secure the loan.

For customers seeking a streamlined application process, with minimal documentation and a quick response, we offer a Preferred Term Loan for loans up to $50,000. Funds cannot be used to refinance existing debt.

For customers that are expanding their business and may not have sufficient business assets to fully collateralize their loan, we offer a “Ready-Cash” Term Loan where a second mortgage on your primary residence may be used as a subordinate source of repayment.

Commercial Real Estate Mortgage
Whether you own business real estate or are looking to acquire a property, Eastern’s competitive rates can help you refinance or obtain a new mortgage. Both fixed and variable interest rates are available. Commercial mortgages are available from $50,000 to $3,000,000.