Alarm Detection Systems becomes commercial customer of Eastern Bank

Jan. 5, 2021
Security Alarm Lending Group Selected By Family-Owned Business For Full Banking Solution Including $10 Million Loan Facility For Working Capital
Alarm Detection Systems

BOSTON, MA, December 16, 2020 – Eastern Bank is pleased to announce Alarm Detection Systems, Inc. as a new commercial banking customer. Family owned and operated since it was founded in 1968, Illinois-based Alarm Detection Systems (ADS) is one of the largest security companies in the United States and offers both business and home security systems. Eastern is providing a full banking solution to ADS, which includes a revolving line of credit for working capital and expansion plans as well as comprehensive cash management services and solutions.

“The team at Eastern brings decades of experience serving security alarm businesses, and we look forward to working with them for our treasury, working capital and financing needs,” said Robert Bonifas, Founder, President and CEO of Alarm Detection Systems.

“Alarm Detection Systems has been supplying alarm systems and services for more than 50 years, and we are pleased to welcome them as a customer,” said Greg Buscone, Executive Vice President, Senior Commercial Banking Officer of Eastern Bank.

Eastern provides a range of commercial financing offerings to help companies across many industries to 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 and asset based lending.

The Commercial Banking team advising Alarm Detection Systems includes Executive Vice President, Senior Commercial Banking Officer Greg Buscone, Senior Vice President and Commercial Team Leader Brendan O’Neill, and Senior Vice President and Commercial Relationship Manager Matthew Hunt. Mark Sandler of SPP Advisors represented Alarm Detection Systems.

About Eastern Bank

Founded in 1818, Boston-based Eastern Bank has more than 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. Join us for good at and follow Eastern on FacebookLinkedInTwitter and Instagram