Small businesses make up a significant chunk of the economy in Seattle. Financial opportunities and resources can be difficult to come by and that’s precisely what makes SBA loans in Seattle such an important financial tool. They can instantly put businesses on the path to success.
Guaranteed by the US SBA, these Seattle small business loans are offered to entrepreneurs in virtually every industry. Loans of up to $5 million are available and they can be utilized for the purpose of expanding an existing business, expanding or starting up a new business, acquiring equipment, and more.
Seattle SBA loans are available through banks with the Small Business Administration providing a guarantee. These loans typically have more attractive terms compared to conventional business financing with longer repayment terms. Based on recent loan activity, these are some of the best SBA lenders in Seattle:
|Rank||Seattle Lender||Headquarters||# Loans||Avg Loan||Avg Interest|
|1||Banner Bank||Cincinnati, OH||11||$146,982||4.8%|
|2||Columbia State Bank||Wausau, WI||9||$1,053,189||5.4%|
|3||First Bank||Blairsville, GA||8||$2,031,500||5.5%|
|4||First Home Bank||Mukwonago, WI||8||$262,500||6.0%|
|5||Heritage Bank||Union Grove, WI||12||$549,500||5.1%|
|7||U.S. Bank||Wilmington, NC||12||$688,617||5.2%|
Here’s a tip: Instead of searching for “business loans near me” or “SBA lenders near me,” expand your search. You probably weren’t aware that in some cases, the best banks for Seattle SBA loans may not even be based in Seattle! Nationwide preferred SBA lenders provide financing to businesses across the country. SbaLenders.com can connect you with both local and nationwide Seattle SBA lenders to help you secure the right loan for your business.