Preferred Term Loan

Get a quick loan decision and see how Business is Good® with Eastern Bank.

The Eastern Bank Preferred Term Loan is a fast, simple way for your large or small business to get the funds you need, now. Applying takes just a few minutes and you’ll get a quick decision.

Preferred Term Loan features: 

Mattress company owner, Small Business loan customer
  • Up to a $100,000 loan1
  • Funds credited to your Eastern bank business checking account2
  • Low fixed rate and a 5-year term
  • No prepayment penalties
  • Lending advice from a local trusted expert
  • The Preferred Term Loan is also available for SBA loans from New England’s #1 SBA Lender









Get Started Today with our Preferred Term Loan or Business Loan applications

To get started with your application online, all you need is Adobe Reader to open and save these fillable PDF documents. There are three easy steps:

Step 1

Open the appropriate application by clicking the below link that applies to you and your business. A new browser window containing the application will open.

Application for loans under $100,000
(Aggregate commercial loan commitments, including this request, cannot exceed $100,000.)

Application for loans $100,000 and over

Save the application to your computer (e.g. to your desktop). Then close the browser window.

Go to where you saved the application on your computer and open it. Now, anytime you go to close the application, you will be automatically prompted to save it, ensuring you do not lose any data.

If you don’t have Adobe Reader, you can visit any one of our 90+ branches to get started with your application right away.


Other Loan Options

Express Business Loan

Eastern Bank now offers the Express Business Loan, which offers up to $100,000 funding in as soon as a day. To learn more, visit here.3

To Learn More About the Preferred Term Loan:  


Get Started          Locate a Branch  


 Or Call Us at 1-800-293-1460

If you are interested in lines of credit over $1 million, please contact Tom Conaton @ 978-446-9273 or email him at

  1. Funds cannot be used to refinance existing debt.
  2. Must have an Eastern Bank business checking account as part of the final approval process.
  3. The Express Business Loan is available for Massachusetts businesses only.