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Eastern Bank Named in Faros 17 Broad Hotel License Pledge
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Description
Faros 17 Broad LLC seeks approval to pledge their hotel liquor license and alcohol inventory to Eastern Bank as collateral for a loan under state liquor license regulations. The action requires Select Board and ABCC review.
Contract Details
Vendor
EASTERN BANK
Agency
Nantucket Regional Transit Authority, MA
Contract Type
FINANCIAL_SERVICES
Document Date
June 15, 2026
Renewal Date
2026-11-30
Renewal Info
Pledge remains valid only so long as the liquor license is renewed annually; collateral becomes void if license expires or is revoked.
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