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Eastern Bank Provides $8MM Financing for Boston Battery for Working Capital, Real Estate And Equipment

April 01, 2022, 07:40 AM
Filed Under: Distribution

Eastern Bank announced Boston Battery as a new asset-based lending customer. Boston Battery is an independent, locally owned wholesale distributor of Interstate Batteries, North America’s market leading automotive battery brand for over 60 years. Boston Battery serves the southern New England market via its four retail locations and over 1,000 authorized dealers. The company also offers a wide variety of non-automotive batteries for household, medical and industrial applications.    
“We have quadrupled the size of our business over the past 10 years, through a combination of acquisitions and organic growth, and we look forward to partnering with Eastern Bank to continue on this growth trajectory,” said Daniel Schmitz, President of Boston Battery. “Following a selection process and now having worked with the team at Eastern for several months, we are confident in their willingness and ability to support us in all of our financing needs.”  
“On behalf of everyone at Eastern, we are excited to welcome Boston Battery as a new customer and to support a business working across our local economy,” said Greg Buscone, Executive Vice President, Senior Commercial Banking Officer of Eastern Bank.
Eastern provides a range of commercial financing offerings to help companies across many industries to improve cash flow, increase efficiencies and build for the future. Commercial lending solutions include working capital/lines of credit, equipment/term loans, real estate loans, acquisition financing, asset based lending and employee stock ownership plan-related financing.  
The Commercial Banking team advising Boston Battery includes Executive Vice President, Senior Commercial Banking Officer Greg Buscone, Head of Asset Based Lending Don Lewis, and Senior Vice President and Relationship Manager Dan Bolger.  

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