Eastern Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Eastern Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541110 | Offices of Lawyers | 450 | $24.3M | $54K | 3.9% |
| 812112 | Beauty Salons | 346 | $21.2M | $61K | 3.0% |
| 722511 | Full-Service Restaurants | 330 | $53.2M | $161K | 2.9% |
| 561730 | Landscaping Services | 256 | $19.1M | $74K | 2.2% |
| 811111 | General Automotive Repair | 241 | $22.4M | $93K | 2.1% |
| 236118 | Residential Remodelers | 224 | $17.5M | $78K | 1.9% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 214 | $20.8M | $97K | 1.9% |
| 238990 | All Other Specialty Trade Contractors | 209 | $18.0M | $86K | 1.8% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 185 | $18.4M | $99K | 1.6% |
| 621210 | Offices of Dentists | 181 | $19.5M | $108K | 1.6% |
Geographic Distribution
SBA lending activity for Eastern Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 9,335 | $898.7M | 81.2% |
| Rhode Island (RI) | 1,246 | $222.7M | 10.8% |
| New Hampshire (NH) | 858 | $113.6M | 7.5% |
| Connecticut (CT) | 11 | $5.7M | 0.1% |
| Maine (ME) | 36 | $4.3M | 0.3% |
| New York (NY) | 7 | $1.1M | 0.1% |
| Florida (FL) | 1 | $260K | 0.0% |
| Minnesota (MN) | 1 | $126K | 0.0% |
| Nevada (NV) | 1 | $50K | 0.0% |
| Wyoming (WY) | 1 | $50K | 0.0% |
Why Choose Eastern Bank?
Based on SBA 7(a) lending track record from 1991-2025
- ✓Proven Track Record: 11,497 SBA loans approved, totaling $1.25B in financing
- ✓Industry Expertise: Specialized focus on Offices of Lawyers, Beauty Salons, Full-Service Restaurants
- ✓Competitive Terms: Average interest rate of 7.32% with flexible term lengths averaging 78 months
- ✓Loan Range: Loan sizes from $3K to $5.0M, with an average of $108K
- ✓Nationwide Reach: Active lending in 10 states, with strong presence in MA, RI, NH
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Eastern Bank SBA lending
What types of businesses does Eastern Bank typically finance?
Eastern Bank specializes in SBA 7(a) lending to specific industries including offices of lawyers, beauty salons, full-service restaurants, landscaping services. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Eastern Bank's typical SBA loan terms?
Eastern Bank's SBA 7(a) loans typically feature an average interest rate of 7.32% and average term length of 78 months (approximately 7 years). Loan sizes range from $3K to $5.0M, with an average loan size of $108K.
Do I need a business valuation for a Eastern Bank SBA loan?
Yes, Eastern Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Eastern Bank compare to other SBA lenders?
Eastern Bank has originated 11,497 SBA loans totaling $1.25B since 1991. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Eastern Bank lend in?
Eastern Bank provides SBA 7(a) financing with particularly strong presence in MA, RI, NH, ME, CT. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Certified valuations are often required for SBA loans over $250,000.
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