Eastern Bank
Boston, MA 2110
⭐ SBA Preferred LenderTop Industries Financed
- Full-Service Restaurants
- Landscaping Services
- Beauty Salons
- Offices of Lawyers
- New Single-Family Housing Construction (except Operative Builders)
Quick Summary
Eastern Bank is an SBA-approved lender headquartered in Boston, Massachusetts. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 2,197 SBA 7(a) loans totaling $337.9M, with an average loan size of $154K. They serve businesses across 6 states.
About Eastern Bank
Eastern Bank is an SBA-approved lender headquartered in Boston, Massachusetts. Since 2020, they have approved 2,197 SBA 7(a) loans totaling $337.9M, with an average loan size of $154K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 6 states.
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Frequently Asked Questions
Is Eastern Bank an SBA Preferred Lender?
Yes, Eastern Bank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Eastern Bank approved?
According to SBA FOIA public records, Eastern Bank has approved 2,197 SBA 7(a) loans totaling $337.9M since 2020. Their average loan size is $154K.
What states does Eastern Bank serve?
Eastern Bank serves businesses in 6 states: Florida, Massachusetts, Maine, New Hampshire, Rhode Island, Wyoming.
How do I apply for an SBA loan with Eastern Bank?
To apply for an SBA 7(a) loan with Eastern Bank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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