Eastern Bank provided $7.5 million in working capital financing to Asian Atlantic Industries (AAI) and welcomed it as a new asset-based lending customer. Founded in 1998 by CEO and founder, Tom Mahoney, AAI is a global supplier of electronic components and semiconductors. Headquartered in Portsmouth, NH, AAI uses its proprietary software to track the universe of supply and demand, providing its customers with real-time product availability from its vast database of manufacturers and resellers.
“Asian Atlantic Industries is pleased to begin a new banking relationship with Eastern Bank,” Mahoney said. “The experience and relationship focus of the Eastern team were evident from our initial meetings. The flexibility of the financing solution will allow our company to take advantage of current opportunities in the market, and support our recent and projected growth.”
“For over 20 years, Asian Atlantic Industries has served the growing electronic component marketplace with a commitment to deliver outstanding client support,” Greg Buscone, executive vice president, senior commercial banking officer of Eastern Bank, said. “We are proud to assist with their financing needs.
The commercial banking team advising Asian Atlantic Industries includes executive vice president, senior commercial banking officer Greg Buscone, head of asset-based lending Don Lewis, and senior vice president and relationship manager Dan Bolger.
