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Eastern Bank Announces NEI General Contracting As A Commercial Banking Customer
Provides Full-Service Banking Relationship To Support Affordable Housing Development And National Expansion BOSTON--(BUSINESS WIRE)-- Eastern Bank is pleased
About this update from Eastern Bankshares, Inc.
[{"type":"text","content":"\nProvides Full-Service Banking Relationship To Support Affordable Housing Development And National Expansion\n\n\n BOSTON--(BUSINESS WIRE)--\nEastern Bank is pleased to announce NEI General Contracting (NEI) as a new commercial banking customer. Founded in 1998, NEI General Contracting is a leading general contractor specializing in affordable and market-rate housing, with extensive experience in ground-up construction, moderate rehabilitation, historic restorations and residential conversions. Headquartered in Boston, NEI also operates regional offices in Florida and Texas, serving clients across the Northeast, Southeast and Southwest. Eastern Bank is providing NEI with a $30 million working capital line of credit to support its day-to-day operations, three real estate loans to refinance existing facilities, as well as a full suite of treasury management services.\n\n\n“NEI General Contracting has built a reputation for excellence in affordable housing and community development, and we’re thrilled to welcome them to Eastern Bank,” said Greg Buscone, Executive Vice President, Chief Commercial Banking Officer of Eastern Bank. “Their work is transforming neighborhoods and creating opportunities for individuals and families across the region. We’re proud to provide a range of financial solutions supported by local decision-making to help with their growth objectives.”\n\n\n“We’re excited to begin our relationship with Eastern Bank,” said Josef Rettman, President of NEI General Contracting. “Their team understands the unique demands of the construction industry and the importance of local market expertise. Eastern’s responsiveness and commitment to building strong relationships made them the right choice for our growing business.”\n\n\nEastern Bank provides a range of commercial financing offerings to help companies across many industries 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, franchise lending and employee stock ownership plan-related financing.\n\n\nThe Commercial Banking team advising NEI General Contracting includes: Executive Vice President, Chief Commercial Banking Officer Greg Buscone; Senior Vice President, Commercial Group Director Brendan O’N...