Eastern Bank Announces The Sourcing Group As A Commercial Banking Customer
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working capitalfinancial
Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.
asset-based lendingfinancial
Asset-based lending is a type of loan where a borrower uses tangible assets — such as inventory, accounts receivable, equipment, or real estate — as collateral to secure credit. For investors, it matters because the quality and liquidity of the pledged assets affect the lender’s risk and the borrower’s borrowing capacity; like borrowing against items in a pawnshop, stronger assets generally mean safer loans and clearer recovery options if the borrower defaults.
franchise lendingfinancial
Franchise lending is when a bank or investor makes loans specifically to people or businesses that buy and run a franchise, funding things like startup fees, equipment, property, or day‑to‑day operations. It matters to investors because the loan’s safety and return depend on the franchise brand’s strength and local store performance—similar to lending on a chain of stores rather than a single independent shop—so franchise stability, sales trends, and franchisor support drive credit risk and potential returns.
Financing arranged to create, fund or support an employee stock ownership plan (ESOP), where a lender provides money so employees can acquire company shares held in a trust or to help the company buy back shares on behalf of workers. It matters to investors because this borrowing changes the company’s debt level and who owns the shares, similar to taking a mortgage to let a group buy a house—altering risk, cash flow and incentives for management and workers.
BOSTON--(BUSINESS WIRE)--
Eastern Bank is pleased to announce The Sourcing Group (TSG) as a new commercial banking customer. TSG provides technology enabled solutions that enable their clients to optimize the creation, procurement, fulfillment and logistics for all types of marketing collateral and branded merchandise. Eastern Bank will be a key financial resource in fueling the continued growth and success of TSG.
“We’re proud to support The Sourcing Group with their day-to-day financing needs and next planned steps in their growth,” said Greg Buscone, Executive Vice President, Chief Commercial Banking Officer of Eastern Bank. “It has been a pleasure working alongside their team to structure a financing solution that reflects their vision, and is a great example of how we collaborate with our customers to help them achieve their goals.”
“We’re grateful for Eastern Bank’s responsiveness, client service and financing experience,” said Dennis Clemente, President of The Sourcing Group. “Like us, they are deeply committed to their customers and the team’s flexibility and talent were instrumental in helping us position our company for future growth.”
Eastern Bank provides a range of commercial financing offerings to help companies across many industries improve cash flow, increase efficiencies and build for the future. Commercial lending solutions include working capital/lines of credit, equipment/term loans, real estate loans, acquisition financing, asset-based lending, franchise lending and employee stock ownership plan-related financing.
The Commercial Banking team advising The Sourcing Group includes: Executive Vice President, Chief Commercial Banking Officer Greg Buscone; Senior Vice President, Commercial Group Director Brendan O’Neill; Senior Vice President and Commercial Banking Team Leader Joseph Alberghini; and Vice President, Commercial Portfolio Manager Davis Foster.
About Eastern Bank
Founded in 1818, Eastern Bank is Greater Boston’s leading local bank with approximately 110 branch locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. As of September 30, 2025, Eastern had approximately $25.5 billion in assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management and Private Banking divisions, which include the largest bank-owned independent investment adviser in Massachusetts with $9.2 billion in assets under management. Eastern takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of 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, and Instagram. Eastern Bankshares, Inc. (Nasdaq: EBC) is the holding company for Eastern Bank. For investor information, visit investor.easternbank.com.
