Eastern Funding Surpasses $2B in Projects Funded, Enters Canadian Market

As it celebrates its 20th year in business, Eastern Funding surpassed $2 billion in projects funded.

The company, which was launched in 1997 by Michael Fanger and Brian Grell also reached a milestone in 2017 as in entered the Canadian market.

“I remember when we started my goal was to have $20 million in annual fundings. To have funded over $2 billion in projects since then is gratifying,” said Fanger, Eastern Funding’s president.

As recently as 2016, Eastern Funding was recognized as a Top 50 U.S. Bank Finance/Leasing Company by Monitor.

EF is a non-captive financing company in the commercial laundry industry, which has helped thousands of laundry and dry-cleaning business owners with funds for new equipment, business acquisitions, refinancing and the building of new laundromats.

The company has expanded its footprint outside of laundry and is a provider of convenience store financing in the Northeast. The company’s Specialty Vehicle and Equipment Funding division was started five years ago and has grown into a solid bank-owned financing company in the tow and recovery industries.

“Over the 20 years we have been in business, we have strived to be a resource for our customers and others in the industries we serve,” said Brian Grell, Eastern Funding’s executive vice president. “Because we offer more than just financing, customers, equipment vendors and even some competitors have come to us for expertise and an unbiased look at the industry. We have built rock-solid relationships across these segments and we utilize them to help our customers grow their business.”

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