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. Please see some of the community organizations we collaborate with below. Contact an Equity Alliance for Business banker to learn more.
Equity Alliance for Business
Equity Alliance for Business exists to support businesses who need it the most. Eastern Bank’s approach is to establish banking relationships rooted in equity for all emerging businesses. 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.
Equity Alliance for Business exists to support businesses who need it the most. Eastern Bank’s approach is to establish banking relationships rooted in equity for all emerging businesses. 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.
The Equity Alliance for Business program works in four ways to support emerging entrepreneurs in all of our neighborhoods.
| What We Offer | How It Works |
|---|---|
| Local 1:1 Relationships | A team of dedicated bankers, with a deep knowledge of the local community and small business banking, serves as consultative relationship managers, working closely with business owners to understand their needs and offer tailored solutions. |
| Credit Solutions | Tailored credit product and other solutions designed to meet the needs of all emerging business owners and barriers inherent in standard credit products today. Term loans up to $100,000 are available. Eligibility is for emerging business owners working with Equity Alliance for Business, who are Business Relationship Managers dedicated to providing credit to small businesses in Eastern's communities that otherwise would not qualify for credit under the bank's traditional underwriting criteria |
| 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. |
Credit Solutions
Credit Solutions
Beyond Traditional Underwriting Standards
Beyond Traditional Underwriting Standards
Built to meet the needs of all emerging businesses that may not qualify for access to capital with traditional underwriting standards.
Loans to Support Your Business
Loans to Support Your Business
Loans up to $100K.
Eligibility for Small Businesses
Eligibility for Small Businesses
Eligible businesses are those working with Equity Alliance for Business—Relationship Managers who extend credit to small businesses in Eastern's communities that wouldn't otherwise qualify under the Bank's standard underwriting criteria.
5-year Loan Term
5-year Loan Term
5-year loan term with fixed interest rate option available. Must be in business at least a year.*
Access to Entrepreneurial Insights & Tools
Get your small business growing with tools and tips from the U.S. Small Business Administration (SBA).
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Community Organizations
Community Organizations
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External Small Business Grants and Loans
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 tailored products for childcare, rideshare, and business lines of credit.
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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Contact Us Today
Contact Us Today
Contact Us Today