Eastern Bank Named #1 SBA Lender in Massachusetts for the 14th Year in a Row
14 December 2022 - 5:00AM
Business Wire
Eastern Bank has been named by the U.S. Small Business
Administration (SBA) as the top lender to small businesses for SBA
7(a) and 504 loans in Massachusetts for the 14th consecutive
year.
“Small businesses are the heart and soul of our neighborhoods
and essential to a thriving, local economy, and we are so very
proud to work alongside the Small Business Administration in
helping Massachusetts business owners achieve the reality of
business ownership,” said Quincy Miller, Vice Chair and President
of Eastern Bank. “Eastern’s team of Branch Managers and Business
Bankers are deeply committed to offering business owners a full
suite of solutions to launch, operate and grow a business no matter
their starting point, and we are honored to be recognized once
again by the SBA as a top lender to the small business
community.”
The SBA issues its rankings annually, based on the number of
loans originated by banks in the SBA fiscal year, which runs from
October 1 to September 30 of the following year. Eastern was the
No. 1 SBA 7(a) lender in Massachusetts for the 14th year in a row
with 251 loans totaling approximately $35.7 million, and the top
banking 504 lender in terms of gross dollar amount with 19 loans
totaling approximately $27.1 million.
SBA loans are intended to help businesses that may not qualify
for conventional loans get the funds they need to start, grow and
expand.
About Eastern Bank Founded in 1818, Boston-based
Eastern Bank has more than 120 locations serving communities in
eastern Massachusetts, southern and coastal New Hampshire, and
Rhode Island. As of September 30, 2022, Eastern Bank had
approximately $22 billion in total assets. Eastern provides
banking, investment and insurance products and services for
consumers and businesses of all sizes, including through its
Eastern Wealth Management division and its Eastern Insurance Group
LLC subsidiary. Eastern takes pride in its outspoken advocacy and
community support that includes $240 million in charitable giving
since 1994. An inclusive company, Eastern employs approximately
2,100 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. Eastern Bankshares, Inc. (Nasdaq Global
Select Market: EBC) is the stock holding company for Eastern Bank.
For investor information, visit investor.easternbank.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20221213005925/en/
Media contact: Andrea Goodman Eastern Bank
a.goodman@easternbank.com 781-598-7847
Investor contact: Jill Belliveau Eastern Bankshares, Inc.
InvestorRelations@easternbank.com 781-598-7920
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