SOURCE: Eastern Funding

Eastern Funding

June 04, 2012 13:15 ET

Eastern Funding Marks 15 Years of Commercial Lending Success

NEW YORK, NY--(Marketwire - Jun 4, 2012) - Eastern Funding LLC, one of the country's leading business finance companies in the coin laundry, convenience store, and dry cleaning industries, is marking its fifteenth year in business with an Anniversary Celebration to be hosted at the company's recently renovated New York City offices on June 7th, 2012. Ranked as the 36th-largest bank-owned leasing and financing company by the prestigious Monitor Listing of the nation's top bank leasing and financing companies, Eastern Funding is consistently viewed by the laundry industry as a trusted source for both financing expertise and tailored lending solutions.

Eastern Funding's Senior Vice President, Stephen Gramaglia, noted, "I've been with EF since its infancy and I'm proud of what we have accomplished. Looking back, we've achieved so much more than we imagined. We've helped thousands of entrepreneurs achieve their dreams of owning their own business. Our commitment to a customer-focused business model has set us apart and set our clients on their own paths to success. Building strong and lasting customer relationships continues to be a cornerstone of Eastern Funding's success."

Also noteworthy at Eastern Funding during 2012 is the launch of the company's Specialty Vehicle & Equipment Funding division. Having commenced operations 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.

With offices headquartered in New York City and founded by commercial banking and lending veteran Michael Fanger, 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 visit www.EasternFunding.com.

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