SOURCE: Eastern Funding

Eastern Funding

August 08, 2012 11:24 ET

Commercial Lender, Eastern Funding, Promotes Two Key Executives

NEW YORK, NY--(Marketwire - Aug 8, 2012) - Eastern Funding LLC, one of the country's leading business finance companies in the coin laundry, specialty vehicle, and equipment financing industries, has promoted two key executives to Vice President. JP Nicoletta, who will serve as Eastern Funding's Vice President of Sales and Marketing, has more than 12 years of commercial lending experience. He received his Bachelor's Degree in Business Administration: Marketing from Fordham University and an MBA from Long Island University's CW Post College of Management. Robert Fagan joined Eastern in 2005 as Customer Service & Collection Manager bringing more than 20 years of customer service and collections experience at companies including CIT Bank and Copelco Capital. As Vice President of Collections, Mr. Fagan will help manage Eastern Funding's portfolio performance as well as customer service related issues.

According to Eastern Funding's President, Michael Fanger, "The promotion of JP and Robert is part of the consistent fine-tuning that's integral to our long-standing management excellence at Eastern. Our management team -- and the company as a whole -- is built around a core commitment to build strong and lasting customer relationships. That customer focus has certainly become a hallmark of Eastern Funding's success."

Along with the recent executive promotions, Eastern Funding has also launched a Specialty Vehicle and Equipment Funding division. With operations commencing in April 2012, the new financing service provides lending, leasing, and direct financing programs nationally for specialty vehicles, tow trucks, and equipment. The division's funding experts provide financing solutions for businesses specializing in towing and recovery vehicles, commercial school buses, transportation equipment, and more.

Eastern Funding was founded by commercial banking and lending veteran Michael Fanger, and has its offices headquartered in New York City. Eastern Funding has become a leader in financing for the laundry business by providing more than $700 million in funding since its inception in 1997. The company makes business financing available to facilitate new and used equipment purchases, acquisitions and refinancing of retail stores, real estate purchases, and provides fixed- and floating-rate loans. Eastern Funding LLC is a subsidiary of Brookline Bancorp (NASDAQ: BRKL). For more information about the company and its services, please visit www.EasternFunding.com.

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