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Eastern Bank Provides $7.5MM in Asset-Based Working Capital Financing to Asian Atlantic Industries

June 28, 2022, 07:00 AM
Filed Under: Electronics
Related: Eastern Bank

Eastern Bank announced Asian Atlantic Industries(AAI) as a new asset-based lending customer. Founded in 1998 by CEO Tom Mahoney, AAI is a global supplier of electronic components and semiconductors. Headquartered in Portsmouth, New Hampshire, AAI uses its proprietary software to track the universe of supply and demand, providing its customers with real-time product availability from its vast database of manufacturers and resellers.
“Asian Atlantic Industries is pleased to begin a new banking relationship with Eastern Bank,” said Tom Mahoney, Founder and CEO of Asian Atlantic Industries, LLC. “The experience and relationship focus of the Eastern team were evident from our initial meetings. The flexibility of the financing solution will allow our company to take advantage of current opportunities in the market, and support our recent and projected growth.”  
“For over 20 years, Asian Atlantic Industries has served the growing electronic component marketplace with a commitment to deliver outstanding client support,” said Greg Buscone, Executive Vice President, Senior Commercial Banking Officer of Eastern Bank. “We are proud to assist with their financing needs.”
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.  

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