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Eastern Bank

Eastern Bank offers comprehensive SBA lending services, specializing in small business financing solutions to support growth and operational needs. With a focus on personalized service, they assist entrepreneurs in securing funding through various SBA programs, including the 7(a) loan program. Their experienced team provides guidance from application to approval, ensuring a smooth process for borrowers seeking capital for expansion, equipment, or working capital. Located in Boston, they serve a diverse range of industries, with a strong emphasis on community development and small business success. Their loan offerings include flexible terms and competitive rates, tailored to meet the unique needs of each client. Whether you’re starting a new venture or expanding an existing business, Eastern Bank is committed to helping you achieve your financial goals with reliable SBA support.

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Lender Type

Commercial Bank

Google Rating

4.3

Google Review Count

Question 1

What is this place and what can I find here?

Answer 1

This is a financial institution that provides SBA loan programs and small business financing solutions, helping entrepreneurs secure the capital they need for growth and operations.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It"s recommended to schedule an appointment to ensure dedicated service, but walk-ins may be accommodated depending on availability.

Question 3

What are the hours of operation?

Answer 3

Typically, they operate from 9 am to 5 pm, Monday through Friday, but it"s best to check ahead for specific hours.

Question 4

Is there a fee to use this?

Answer 4

There are no fees to access basic information, but loan applications and services may involve fees such as origination or processing charges.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This institution primarily serves small business owners and entrepreneurs within its regional service area, but eligibility depends on specific loan criteria.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of around 620 is generally preferred, but higher scores improve approval chances.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.

Eastern Bank

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