Eastern Bank Named #1 SBA Lender in Massachusetts for the 17th Year in a Row

Key Terms

u.s. small business administration regulatory

A U.S. Small Business Administration (SBA) is a federal agency that helps small companies get loans, government contracts, disaster aid and business advice; think of it as a government safety net and coach that makes it easier for small firms to start, grow and survive shocks. Investors care because SBA support changes how easily small businesses obtain credit and contracts, which affects the health of local economies, industry suppliers, lenders and the risk/reward profile of investments tied to small-business activity.

sba 7(a) loans financial

SBA 7(a) loans are U.S. government‑backed small business loans where a private lender provides funds and the Small Business Administration guarantees a portion of the loan like a co‑signer or safety net. They matter to investors because the guarantee lowers lender risk and makes it easier for small companies to get funding, which can boost business growth, affect bank loan portfolios, and influence credit risk and returns in securities tied to small‑business lending.

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 17^th consecutive year.

“Eastern is proud to once again be recognized by the Small Business Administration as the top SBA lender in Massachusetts. This achievement reflects our deep commitment to helping local business owners access the resources they need to grow and thrive,” said Quincy Miller, Vice Chair, President and Chief Operating Officer of Eastern Bank. "We thank the SBA for creating greater opportunity for the hundreds of small businesses we served through SBA 7(a) loans during this most recent year, as well as to our tremendous colleagues who work every day to understand the goals of local entrepreneurs and deliver solutions that make a difference for their businesses, employees and communities they serve. We look forward to continuing to collaborate with the many organizations who help to ensure small businesses gain access to the capital, technical resources and networks needed to support small business and economic growth in Massachusetts.”

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 17^th year in a row producing 290 loans totaling approximately $43.5 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. The impact of Eastern’s Equity Alliance for Business program to support women and entrepreneurs of color through specialized credit options, banking services and entrepreneurial resources, contributed to Eastern’s SBA lending activity.

Real estate investor Greg Banks’ path to business ownership was made possible earlier this year through the help of Eastern Bank and a SBA 7(a) loan. Through his experience in multifamily, long-term and mid- to short-term rentals, he saw an opportunity to become owner of Woburn-based Set The Stage, a home staging, design, furniture and decor business. He said, “With the strong support of Eastern Bank, everything came together seamlessly, and I was able to successfully purchase a business and take a major step toward a lifelong goal. I would strongly recommend Eastern Bank to anyone looking for a highly capable lender.”

About Eastern Bank
Founded in 1818, Eastern Bank is Greater Boston’s leading local bank with more than 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. As of September 30, 2025, Eastern Bank 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 approximately $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 Global Select Market: EBC) is the holding company for Eastern Bank. For investor information, visit investor.easternbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251209238664/en/

Media contact:

Andrea Goodman

Eastern Bank

a.goodman@easternbank.com

781-598-7847



Investor contact:

Andrew Hersom

Eastern Bankshares, Inc.

InvestorRelations@easternbank.com

617-897-1177

Source: Eastern Bank