1. A Few Keys to Accessing Capital
A Seminar By
Ting Wong, VP Bus Banker
Shervin Khakian, VP Manager
Tom Walsh, VP Manager
Eastern Bank

2. Overview of the Presentation
Introduction to Eastern Bank
Types of Financing
How to Get Financing
Q & A

3. We now have 99 branches in Massachusetts
Who is Eastern Bank
Founded in 1818, Eastern is the largest independent, mutually owned bank in New England
We now have 99 branches in Massachusetts
# 1 SBA Lender in New England for past six years
Local bank dealing with local businesses – We primarily do business with companies in Massachusetts and New Hampshire
Local decision making -  Largest commercial bank headquartered in Boston

4. Microlending is a source of debt financing up to $50,000
Microlending - Debt
Microlending is a source of debt financing up to $50,000
The loans are made by microlenders such as ACCION USA, Economic Development Corps like SEED
Generally are higher risk than conventional lending, therefore interest rates are higher
Good for not yet established businesses, home based businesses

5. Government Programs – Can be Debt or Equity
Can be National Programs like SBA financing, USDA lending or Ex Im bank
Can be state programs like the MGCC, BDC Capital Recycling LF or others
Can be local programs like Salem Small Business Loan fund, Storefront Renovation Program
Generally have lower interest rates, better terms but harder to get
Normally tied to job creation goals

6. Typical Deal Size and Parameters
Eastern Bank consider small business deal size from $10,000 up to $3,000,000
We work with all industries, even “so-called” high risk industries like construction and restaurants
Eastern provides term loans, lines of credit and commercial real estate loans for small business
For Deals up to $100,000, if you meet certain parameters, Eastern Bank can provide loan funding and approval within 15 minutes
For Deals over $100,000, typical turnaround from start to close on non real estate deals is four weeks

7. Question and Answer Session