Eastern Bank
Eastern Bank is a Boston-based financial institution founded in 1818 as Salem Savings Bank. The institution evolved from a modest savings bank to Greater Boston's leading local bank and was the oldest and largest mutual bank in the United States prior to its 2020 conversion to a publicly traded corporation.
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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (11 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
Eastern Bank ranks #245 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of Eastern Bank’s 7(a) acquisition lending falls in the $0-$500K range: 5 loans, 45.5% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 5 | 45.5% | |
| $500K-$1M | 2 | 18.2% | |
| $1M-$2M | 3 | 27.3% | |
| $2M-$3M | 1 | 9.1% |
Industries with highest loan volume
Full-Service Restaurants
5
loans
$949K
avg. amount
All Other Amusement and Recreation Industries
1
loans
$269K
avg. amount
Car Washes
1
loans
$558K
avg. amount
General Automotive Repair
1
loans
$495K
avg. amount
Roofing Contractors
1
loans
$1.2M
avg. amount
Limited-Service Restaurants
1
loans
$461K
avg. amount
Plumbing, Heating, and Air-Conditioning Contractors
1
loans
$1.4M
avg. amount
10-Year
0.0%
Percentile Ranking
0th percentile
Eastern Bank’s median variable rate is + 2.00%, against a market median of Prime + 1.88%, 13 above market.
8 of the 11 loans in its trailing three-year book carried a fixed rate; the rest were variable.
This Lender
Market Average
| Loan Size | Avg Rate |
|---|---|
| $2M-$3M | Prime + 2.00% |
over at time of loan origination
Eastern Bank has originated 7(a) acquisition loans in 2 states, most actively in Massachusetts (10) and Rhode Island (1). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| Massachusetts | 10 | 90.9% |
| Rhode Island | 1 | 9.1% |
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