Eastern Bank understands how vital small businesses are to helping our local economy grow and flourish. We also know that securing capital is one of the biggest challenges for early stage businesses. To help them, we’ve partnered with the U.S. Small Business Administration (SBA) to offer SBA loans.
Our commitment to SBA lending has helped us earn the distinction as the #1 SBA lender in New England for five consecutive years. In addition, Eastern Bank was also named the #1 SBA lender in Massachusetts for six consecutive years.
“Eastern Bank is focused on helping businesses and consumers succeed – that’s our role in the market and it should be the role of every bank,” said Richard Holbrook, chairman and CEO of Eastern Bank.
Credit is essential in helping small and mid-sized businesses through changing business cycles. To help make credit available to newer, less established businesses that may not qualify for conventional loans, the Small Business Administration offers government-guaranteed SBA loans.
As a SBA preferred lender, Eastern Bank works closely with the agency and its government loan guarantee programs to offer an array of SBA loans to our customers. So whether you are looking for a line of credit to purchase inventory, a term loan to support capital expansion or a real estate loan to buy a building, Eastern Bank has a SBA loan to meet your needs.
As the #1 SBA lender in Massachusetts, Eastern Bank is proud to help a wide range of businesses get the financing they need to grow. Featured below is a success story for one of our customers.
Overseas Marketing and Working Capital
SBA Loan Granted
Eastern Bank Business Banker
Darlene Ellis Donahue and Carolyn Goff
“I was first drawn to Eastern Bank by Carolyn Goff, a charismatic banker (yes you heard me right!), who took the time to get to know me, my company, and the community my business served. After years of being underserved and largely ignored by anyone at the big banks, it was flattering to be invited to her office to chat about my business and business needs. I opened a checking account, we stayed in touch, and two years later when I needed a line of credit to help make off-season hires I knew where to turn. Carolyn and Darlene Ellis-Donahue expertly guided me (and my CFO) through the application process and helped me discover money through the SBA that no one had every told me about before! We got the credit, I was able to provide two new full-time jobs to people in my community, and the business grew. As the cherry on top, Carolyn introduced me to Charles Smith who helped guide me through the SBA Award process. With their guidance and direction my company won an SBA award which has helped us gain more credibility in our industry. I owe a BIG thank you to Eastern Bank. They have completely transformed my understanding of what a bank can be.”
Three Easy Ways to Learn More
• At any Eastern Bank branch: Use our branch locator to find one near you.
• By email: send an email to our Business Banking team.
• By phone: Call 800-333-8000 and select Option 1.