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Eastern Bank Welcomes Leading Mechanical Industry Supplier Charles D. Sheehy, Inc. As A Commercial Customer
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Rhea-AI Summary
Eastern Bank announces a new commercial banking relationship with Charles D. Sheehy, Inc., providing financing for a working line of credit, term loan, and commercial real estate mortgage. Founded in 1951, Sheehy is a longstanding supplier in the New England contracting industry. This partnership supports Sheehy's financial and growth needs, ensuring the company can maintain a high level of service to its clients. Eastern Bank, established in 1818, has over $24 billion in assets and offers a range of commercial financing solutions to various industries.
Positive
Established a new relationship with Sheehy, enhancing customer base.
Provided comprehensive financing solutions including working capital, term loans, and mortgages.
Support for Sheehy's growth aligns with Eastern Bank's commercial lending strategy.
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None.
Provides Financing For Working Line Of Credit, Term Loan And Commercial Real Estate Mortgage
BOSTON--(BUSINESS WIRE)--
Eastern Bank is pleased to announce Charles D. Sheehy, Inc. (Sheehy) as a new commercial banking customer. Founded in 1951, Sheehy is a fourth-generation, privately-owned supplier of pipes, valves, fittings and mechanical products serving the contracting industry in New England. Headquartered in Avon, MA, Sheehy has more than 50 employees. Eastern Bank is providing financing for a working line of credit, term loan and commercial real estate mortgage to support the company’s ongoing financial and growth needs.
“We are thrilled to expand our relationship with Eastern Bank that started over 20 years ago,” said Jeffrey Camuso, President of Charles D. Sheehy, Inc. “Eastern takes time to understand our needs and challenges, and is able to fit products to our needs.”
“Charles D. Sheehy, Inc. prides itself on delivering a high level of service and extensive inventory to its clients, and we are proud to assist with their financing solutions,” 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 Sheehy includes Executive Vice President, Senior Commercial Banking Officer Greg Buscone, Senior Vice President and Commercial Team Leader James Murphy, and Senior Vice President and Commercial Group Director Dan Field.
About Eastern Bank
Founded in 1818, Boston-based Eastern Bank has more than 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of December 31, 2021, Eastern Bank had approximately $24 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 LLC subsidiary. Eastern takes pride in its outspoken advocacy and community support that includes $240 million in charitable giving since 1994. An inclusive company, Eastern employs approximately 2,100 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.
