Eastern Funding, a laundry business specialist, said it has launched a new Specialty Vehicle and Equipment (SV&E) funding division.

As a subsidiary of Brookline Bancorp, Eastern Funding’s SV&E division provides lending, leasing, and direct financing programs nationally for specialty vehicles, tow trucks, and equipment.

SV&E Funding Group managing director, Peter Ferrara, noted, “As part of Brookline Bancorp, our new Specialty Vehicle & Equipment Funding Group brings the kind of financial trust and security that only banks have to offer — and that is what really separates us from our competition. Our customers make investments in high-end specialty vehicles, which is complemented by our funding group’s stable and predictable financial solutions.”

Eastern said the division’s funding experts provide financing solutions for small business, start-ups, franchises with industry specializations that include towing and recovery vehicles, commercial school bus contractors, transportation equipment for daycare, non-profit and assisted living facilities, paving contractors, limousine operators, and more.

NYC, NY-based Eastern Funding has provided more than $700 million in funding since its inception in 1997. The company’s consistent growth and success in funding the laundry business is reflected in its top ranking by Monitor.