Eastern Bank Welcomes MacFarlane Energy As A Commercial Banking CustomerDecember 19, 2019
Provides Full Banking Solution For Working Capital And Daily Financing Needs
BOSTON, MA, December 19, 2019 – Eastern Bank, America’s oldest and largest mutual bank, is pleased to announce MacFarlane Energy, Inc. as a new commercial banking customer. Founded in 1946, MacFarlane Energy is a third-generation family owned and operated business providing heating oil and fuel, HVAC, air quality, and plumbing services to residential and commercial customers throughout Eastern Massachusetts with gross revenues of more than $30 million.
Eastern is providing a full banking solution to meet MacFarlane Energy’s financing needs. This includes financing comprised of a line of credit for working capital, a commercial real estate mortgage, and a refinancing of existing debt, as well as comprehensive cash management solutions.
MacFarlane Energy began as a one-truck operation by Founder Peter MacFarlane who delivered oil, serviced burners, and installed new equipment himself. Today, MacFarlane Energy operates 87 vehicles, serves 17,000 customers, and continues to expand through acquisitions of heating, cooling, and fuel businesses.
“We aim to be the best company we can be by focusing on what matters most—our customers and dedicated team of employees,” said Scott MacFarlane, President of MacFarlane Energy. “Eastern takes the time to understand our business and what’s important to us, and we appreciate the responsiveness, care, and attention their team provides to our business.”
“The MacFarlane family values long-term relationships with customers who want outstanding service, and we look forward to reflecting these values back to them as their commercial banking partner,” said Greg Buscone, Executive Vice President, Senior Commercial Banking Officer of Eastern Bank.
Eastern provides a range of commercial financing offerings to help local companies across many industries improve cash flow, increase efficiencies, and build for the future. Commercial lending solutions include seasonal working capital/lines of credit, equipment and term loans, and asset based lending.
The Commercial Banking team advising MacFarlane Energy includes Executive Vice President, Senior Commercial Banking Officer Gregory Buscone, Senior Vice President Paul Kurker, Vice President Tyler Dufour, Vice President of Treasury Services Sales Elizabeth Moore, and Relationship Administrator Tony Webb.
About Eastern Bank
Founded in 1818, Boston-based Eastern Bank is America’s oldest and largest mutual bank, with over $11 billion in assets and more than 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. Eastern provides exceptional access to fairly priced banking, investment and insurance products and services for consumers and businesses of all sizes. Eastern Bank, which includes Eastern Wealth Management and Eastern Insurance, is known for its outspoken advocacy and community support that has exceeded more than $140 million in charitable giving since 1999. An inclusive company, Eastern employs 1,900+ deeply committed professionals who value relationships with their customers, colleagues, and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn, Twitter, and Instagram.
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