Eastern Bank announced LOUD Security Systems, a provider of security, fire, access control and video systems for residential, commercial and government customers, as a new commercial banking customer. Founded in 1995 and headquartered in Kennesaw, GA, LOUD serves nearly 13,000 customers across metro Atlanta and 20 states, providing sales, installation, service and monitoring of security systems such as intrusion and fire alarm, access control, video surveillance and automation.
Eastern is providing $7.5 million in financing to support LOUD Security’s growth initiatives, including a revolving line of credit to support the company’s ongoing financial needs as well as a full suite of treasury management services.
“LOUD is a well-established, growing operator in the security alarm sector and we’re pleased to add them to our portfolio of customers in the alarm services industry,” said Greg Buscone, executive vice president, chief commercial banking officer of Eastern Bank. “We look forward to providing a comprehensive range of financial solutions tailored to support their ongoing day-to-day operations as well as future growth plans.”
“This financing supports our vision of leveraging growth opportunities – both organically and through acquisitions – and allows us to invest capital in key acquisitions within our market,” said John Loud, president of LOUD Security Systems, which ranks on the SDM 100 Report. “Eastern Bank demonstrates a clear understanding of our business and the dynamics of the security industry. Their responsiveness and ability to deliver the financial solutions specifically for our needs made them the ideal bank to support our company’s vision and financial goals.”
Eastern Bank provides a range of commercial financing offerings to help companies across many industries improve cash flow, increase efficiencies and build for the future. Commercial lending solutions include working capital/lines of credit, equipment/term loans, real estate loans, acquisition financing, asset-based lending, franchise lending and employee stock ownership plan-related financing.
The Commercial Banking team advising LOUD Security includes: Executive Vice President, Chief Commercial Banking Officer Greg Buscone; Senior Vice President and Commercial Group Director Brendan O’Neill; and Senior Vice President and Team Leader Matthew Hunt.
