Eastern Bank Provides Financing To Support Surety Bond Professionals’ Transition To Employee Ownership

June 4, 2026 - 18:34

BOSTON, June 04, 2026 -- Eastern Bank has provided financing to help Surety Bond Professionals, a Massachusetts-based independent agency focused exclusively on surety bonds, become a fully employee-owned company. The deal includes a term loan to set up an Employee Stock Ownership Plan, along with a revolving line of credit for working capital needs and cash management services.

The arrangement also gives the agency access to a broad range of banking products designed to support its operations. Surety Bond Professionals operates as a specialty firm handling surety bonds for contractors and businesses, a niche that requires deep industry knowledge and long-term client relationships.

By moving to an ESOP structure, the company's employees will gain ownership stakes, a move often used to preserve company culture and reward staff loyalty. Eastern Bank, known for its focus on community banking and business lending, structured the financing to match the agency's growth plans and liquidity requirements.

Financial terms of the transaction were not disclosed. The shift to employee ownership is expected to be completed in the coming months, with existing leadership remaining in place to guide the transition.