Eastern Bank Welcomes Curate Partners As An Asset Based Lending Customer

Rhea-AI Summary

Eastern Bank has welcomed Curate Partners LLC and its subsidiaries as new customers in its Commercial Banking Division by providing an asset-based lending (ABL) line of credit. Curate Partners is a recruitment and consulting agency focusing on digital transformation, serving clients in various sectors including banking and healthcare. Founded in 2014, Curate ranked first among Massachusetts’ Fastest-Growing Private Companies in 2018. Eastern Bank aims to support Curate's operations and expansion with tailored financial solutions.

Positive

• Eastern Bank has secured a new client, Curate Partners, enhancing its asset-based lending portfolio.
• Curate Partners' solid reputation and growth potential enhance Eastern's market positioning.

Negative

• None.

Eastern Bank is pleased to announce Curate Partners LLC and its subsidiaries Curate Partners LLC, II and Curate Insights, LLC as new asset based lending customers in its Commercial Banking Division. Founded in 2014, Curate Partners is a specialized recruitment and consulting agency helping organizations achieve digital transformation. Eastern is providing an asset based lending (ABL) line of credit to meet Curate’s working capital and general corporate financing needs.

Curate serves clients in sectors that include banking and financial services, healthcare, wireless communications, and computer software. Based in Woburn, Massachusetts, Curate Partners ranked first among the Fastest-Growing Private Companies in Massachusetts by the Boston Business Journal in 2018. Also in 2018, Curate ranked 20^th among Inc.’s 5000 Fastest-Growing Companies in the US and in 2019, it earned ClearlyRated’s Best of Staffing Award for both Talent and Client categories, the only award in the U.S. and Canada that recognizes staffing agencies for quality based on ratings provided by clients and job candidates. Curate Partners was founded by five industry veterans, Dan Foley, Ron Fuccillo, Sean Brady, Chris White, and Mike Giglio, who recognized a need for digital transformation and technology innovation in talent recruitment.

“Curate Partners is pleased to begin a new banking relationship with Eastern Bank,” said Daniel Foley, Founder and CEO, Curate Partners. “People are the core of our business, and Eastern’s leadership in the community resonates with our commitment to our clients, job candidates and our employees.”

“Curate is looking forward to a long and successful partnership with Eastern”, said Ron Fuccillo, CFO and Cofounder, Curate Partners. “Our transition to their facility and banking platform was seamless which is a credit to their team.”

“Curate Partners offers new ways to consider the talent recruitment experience through technology innovation and the digital workforce, and we look forward to offering our asset based lending solutions to support its daily operations and expansion plans,” said Greg Buscone, Executive Vice President, Senior Commercial Banking Officer of Eastern Bank.

Eastern provides a range of commercial financing offerings to help local 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 and asset based lending.

The Commercial Banking team advising Curate Partners includes Executive Vice President, Senior Commercial Banking Officer Greg Buscone, Senior Vice President, Head of Asset Based Lending Don Lewis, and Senior Vice President, ABL Relationship Manager Dan Bolger.

About Eastern Bank

Founded in 1818, Boston-based Eastern Bank has more than 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of September 30, 2020, Eastern Bank had approximately $15.5 billion in total assets. Eastern provides banking, investment and insurance products and services for consumers and businesses of all sizes, including through its Eastern Wealth Management division and its Eastern Insurance Group subsidiary. Eastern takes pride in its outspoken advocacy and community support that has exceeded $140 million in charitable giving since 1999. An inclusive company, Eastern employs 1,800+ deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn, Twitter and Instagram. Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC) is the stock holding company for Eastern Bank. For investor information, visit investor.easternbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005775/en/

FAQ

What is the significance of Eastern Bank's new partnership with Curate Partners?

The partnership signals Eastern Bank's growth in asset-based lending, enabling them to support innovative firms like Curate Partners.

What services does Curate Partners provide?

Curate Partners specializes in recruitment and consulting focused on digital transformation across various sectors.

What is the stock symbol for Eastern Bank?

Eastern Bankshares, Inc. trades under the stock symbol EBC.

When was Curate Partners founded?

Curate Partners was founded in 2014.

What type of financial support is Eastern Bank providing to Curate Partners?

Eastern Bank is offering an asset-based lending line of credit to meet Curate’s working capital needs.