Eastern Bank Named #1 SBA Lender in Massachusetts for the 15th Year in a Row

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12/12/2023 - 01:04 PM EST

BOSTON--(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) loans in Massachusetts for the 15^th consecutive year.

“Eastern is honored to be recognized once again by the Small Business Administration as a top lender to the small business community,” said Quincy Miller, Vice Chair and President of Eastern Bank. “Our leadership in small business lending is thanks to the commitment of our tremendous banking colleagues who take the time to learn about the specific needs of small business owners in order to best help them to achieve their business dreams. We are also thankful to work with community organizations helping to ensure small businesses succeed and advance our local economy.”

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 15^th year in a row. The 7(a) loan program is the SBA’s primary program for providing financial assistance to small businesses. 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, 2023, Eastern Bank had approximately $21 billion in total assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes, and takes pride in its outspoken advocacy and community support that includes $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, X 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.