A latina woman wearing an apron stands outside of her restaurant, a black man puts a planter on a shelf in his nursery, an asian woman lifts her mask away from her face while working on a welding project

Equity Alliance for Business

Equity Alliance for Business exists to dismantle the status quo. Eastern Bank’s approach is to establish banking relationships rooted in equity. We know that it takes more than capital for any small business to thrive. That access to community connections and networks unlock opportunity. That education inspires. We are here to move beyond transaction to transformation, and create opportunity.

It’s time for equity. It’s time for growth. It’s time for GOOD. Join us.

 

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The Equity Alliance for Business program works in four ways to support business owners in our communities who identify as women, people of color, LGBTQIA+, as well as veterans or individuals with disabilities.
 

What We Offer How It Works

Local 1:1 Relationships

A team of dedicated and specialized Equity Alliance for Business bankers who serve as consultative relationship managers to business owners and are grounded in the communities where businesses operate.

Credit Solutions

Specialized credit product and other solutions designed to meet the needs of diverse business owners and address systemic inequities inherent in standard credit products today.

Term loans up to $250,000 are available.
Eligibility is for businesses with 51% or greater ownership by people who identify as women and/or people of color.

Access to Entrepreneurial Insights & Tools

Providing help beyond financial products, with access to insights, network building and community collaborations.

Financial Products & Services

Additional financial products beyond credit and lending solutions, such as Monit™, a mobile-friendly financial assistant built for small business owners, customized to help business owners maximize their time and business operations.

 

Meet the Equity Alliance for Business Team

Meet With a Banker

 

Credit Solutions

Built to meet the needs of those who identify as women and/or people of color business owners, who may not qualify for access to capital with traditional underwriting standards.

Two available loan levels: loans up to $100K and loans between $100-250k.

Eligibility is for businesses with 51% or greater ownership by people who identify as women and/or people of color.

5-year loan term with fixed interest rate option available.

Fixed interest rate.

Must be in business at least a year.*

Access to Entrepreneurial Insights & Tools

The Eastern Financial Academy provides you with educational modules and tools for your small business, like this one for people who identify as women and/or people of color-owned businesses.

Get your small business growing with tools and tips from the U.S. Small Business Administration (SBA).

 

EverFi is a third-party content provider for the Eastern Financial Academy.

 

Financial Products & Services brought to you by Eastern Bank
 
Eastern Business Banking®
Eastern Business Banking® is a flexible, easy to use and convenient online banking solution which can be combined with our mobile-friendly financial assistant, Monit, to stay on top of and project future cash flow and more.
 
Eastern Treasury®
Eastern Treasury® is a modular online cash management banking solution that gives you the ability to manage cash flow and initiate transactions from any computer with an Internet connection.
 
Digital Banking for Business™
Access your Eastern business accounts anywhere, anytime to check your account balances, transfer funds between your Eastern business accounts, approve ACH or wire transactions, and more. You must be enrolled in Eastern Business Banking® or Eastern Treasury® to use business mobile banking. 

 

Community Organizations


Eastern Bank’s approach is to establish banking relationships rooted in equity. We know that it takes more than capital for any small business to thrive. That access to community connections and networks unlock opportunity.

Logo for Interise
   
Logo for Massachusetts LBGT Chamber of Commerce
   
Center for Women & Enterprise logo
     
                   
                   
Logo for BECMA
   
Logo for MCCI
   
Logo for Ascendus
     

 

 

External Small Business Grants and Loans

 

Ascendus empowers low- to moderate-income (LMI) business owners with access to capital and financial education. For small business owners who need capital to grow their business, Ascendus offers loans from $500 – $50,000. Qualified businesses will be located nationwide. Ascendus offers general term loans and specialized products for childcare, rideshare, and business lines of credit.

foundation for business equity logo

 

 

 

Applications accepted on a rolling basis. Apply today. BEI is a high-touch, strategic advisory program to build capacity, access to growth capital, and networking to expand business contracts.

 

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Featured Articles and News

 

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*Years in Business and/or Experience in Industry is defined as: one year in business with one full fiscal year of tax returns or CPA prepared financial statements.