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Top SBA Lenders in Seattle
| Rank | SBA Lender | SBA Lender HQs | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | U.S. Bank | Cincinnati, OH | 60 | $249,230 | 9.5% |
| 2 | KeyBank | Cleveland, OH | 56 | $368,823 | 10.5% |
| 3 | Columbia Bank | Lake Oswego, OR | 40 | $53,180 | 12.6% |
| 4 | Newtek Bank | Miami, FL | 30 | $195,667 | 11.1% |
| 5 | Washington Trust Bank | Spokane, WA | 28 | $584,871 | 9.1% |
| 6 | Banner Bank | Walla Walla, WA | 27 | $292,367 | 9.2% |
| 7 | Readycap Lending, LLC | Berkeley Heights, NJ | 23 | $795,957 | 11.3% |
| 8 | BayFirst National Bank | Saint Petersburg, FL | 22 | $153,518 | 12.6% |
| 9 | Huntington Bank | Columbus, OH | 17 | $419,682 | 10.1% |
| 10 | Live Oak | Wilmington, NC | 16 | $1,426,250 | 9.3% |
| 11 | JPMorgan Chase Bank | Columbus, OH | 15 | $492,953 | 9.8% |
| 12 | Sound CU | Tacoma, WA | 13 | $30,562 | 12.4% |
| 13 | Lendistry SBLC | Los Angeles, CA | 11 | $213,527 | 12.2% |
| 14 | Northeast Bank | Lewiston, ME | 11 | $161,091 | 10.5% |
| 15 | United Midwest Savings Bank | De Graff, OH | 10 | $1,033,000 | 10.4% |
| 16 | Accion Opportunity Fund | Seattle, WA | 10 | $47,000 | 9.9% |
| 17 | WaFd Bank | Seattle, WA | 10 | $47,000 | 9.9% |
| 18 | Wells Fargo | Sioux Falls, SD | 9 | $1,056,944 | 8.6% |
| 19 | Harborstone CU | Lakewood, WA | 9 | $847,556 | 10.1% |
| 20 | Celtic Bank | Salt Lake City, UT | 8 | $637,363 | 10.6% |
Top Industries for SBA Loans in Seattle
| Rank | Industry | # Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 9 | All Other Miscellaneous Manufacturing | 5 | $110,000 | 10.5% |
| 6 | All Other Miscellaneous Schools and Instruction | 3 | $235,500 | 9.3% |
| 12 | All Other Specialty Food Retailers | 2 | $1,096,000 | 7.5% |
| 3 | All Other Travel Arrangement and Reservation Services | 2 | $1,201,800 | 6.6% |
| 10 | Baked Goods Retailers | 2 | $724,350 | 10.0% |
| 11 | Breweries | 2 | $975,000 | 9.3% |
| 4 | Carpet and Upholstery Cleaning Services | 3 | $667,100 | 8.9% |
| 18 | Caterers | 7 | $518,429 | 10.9% |
| 5 | Commercial Bakeries | 2 | $225,000 | 10.5% |
| 18 | Convenience Retailers | 5 | $932,600 | 9.6% |
| 10 | Furniture Retailers | 2 | $745,000 | 10.3% |
| 17 | Gasoline Stations with Convenience Stores | 6 | $3,050,667 | 9.0% |
| 12 | Graphic Design Services | 2 | $24,000 | 8.5% |
| 10 | Hobby, Toy, and Game Retailers | 3 | $165,300 | 11.5% |
| 6 | Human Resources Consulting Services | 6 | $50,000 | 10.3% |
| 20 | Interior Design Services | 4 | $134,150 | 9.4% |
| 1 | In-Vitro Diagnostic Substance Manufacturing | 3 | $400,000 | 9.3% |
| 1 | Iron and Steel Mills and Ferroalloy Manufacturing | 4 | $350,000 | 10.0% |
| 12 | Jewelry Retailers | 7 | $153,571 | 10.6% |
| 11 | Offices of Physicians, Mental Health Specialists | 3 | $131,267 | 10.7% |
| 14 | Other Activities Related to Real Estate | 2 | $299,000 | 9.5% |
| 16 | Other Building Finishing Contractors | 9 | $1,310,000 | 9.8% |
| 5 | Other Chemical and Allied Products Merchant Wholesalers | 2 | $1,017,000 | 8.7% |
| 14 | Other Miscellaneous Durable Goods Merchant Wholesalers | 2 | $1,254,000 | 9.0% |
| 3 | Other Performing Arts Companies | 2 | $498,500 | 10.5% |
| 7 | Other Services Related to Advertising | 2 | $10,000 | 10.7% |
| 1 | Paper Bag and Coated and Treated Paper Manufacturing | 2 | $200,000 | 7.5% |
| 8 | Promoters of Performing Arts, Sports, and Similar Events with Facilities | 2 | $2,499,000 | 7.5% |
| 6 | Promoters of Performing Arts, Sports, and Similar Events without Facilities | 2 | $32,500 | 12.5% |
| 6 | Public Relations Agencies | 2 | $350,150 | 10.5% |
| 3 | Record Production and Distribution | 4 | $200,000 | 10.5% |
| 2 | Research and Development in Biotechnology (except Nanobiotechnology) | 3 | $166,667 | 8.4% |
| 7 | Sporting and Recreational Goods and Supplies Merchant Wholesalers | 4 | $60,000 | 10.5% |
| 18 | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | 3 | $969,667 | 8.8% |
| 7 | Temporary Help Services | 3 | $33,000 | 11.4% |
| 1 | Tobacco, Electronic Cigarette, and Other Smoking Supplies Retailers | 8 | $30,000 | 10.3% |
| 2 | Toilet Preparation Manufacturing | 2 | $150,000 | 9.8% |
Finding the right SBA lender in Seattle can be the key to unlocking the funding your business needs. Whether you’re expanding, purchasing equipment, or managing cash flow, we connect you with top SBA lenders in Seattle and nationwide. Click “Connect me to a Seattle Lender” now to find the best financing options for your business!
Connect me to a Seattle lender!
Top SBA Lenders in Seattle | Seattle SBA Loans
Introduction
Seattle is a dynamic business hub, home to a diverse range of industries, including technology, retail, and manufacturing. However, securing financing remains a challenge for many small business owners. SBA loans in Seattle offer a great solution, providing competitive interest rates, long repayment terms, and accessible capital for businesses that may not qualify for traditional loans. Whether you need funding for expansion, purchasing equipment, or working capital, an SBA loan can help your business grow.
SBA Lending in Seattle: Last Year Overview
SBA lending continues to play a crucial role in supporting Seattle’s small businesses. Here are the key lending statistics from last year:
- Total SBA Loans Issued: $130,687,700
- Number of SBA Loans: 241
- Average Loan Amount: $542,272.61
- Average Interest Rate: 10.91%
- Jobs Supported: 2,092
- SBAlenders.com City Ranking: #18 in the U.S.
These numbers highlight the impact of SBA loans in Seattle, ensuring business owners have access to the capital they need while fostering job creation and economic growth.
Why Lenders Choose Us
Lenders work with us because we streamline the SBA loan process, ensuring business owners secure the best financing options. Here’s why lenders trust us:
- Extensive Network of SBA-Approved Lenders: We connect businesses with the top SBA lenders in Seattle and nationwide.
- Efficient Loan Application Process: Our system speeds up approvals and reduces paperwork.
- Expert Business Loan Guidance: Our team helps business owners navigate SBA loan requirements to maximize their chances of approval.
- Tailored Loan Matching: We analyze each business’s needs and match them with the most suitable lenders.
- Proven Success: Thousands of businesses have secured SBA funding through our platform, helping them expand and create jobs.
By working with us, lenders can efficiently support small businesses while ensuring successful loan outcomes.
Overview of SBA Loan Program in Seattle
The SBA 7(a) loan program is the most flexible SBA loan option, designed to support various business needs. Here’s what you need to know about SBA loans:
- Loan Size: Up to $5,000,000
- Loan Term: 10 years for non-real estate loans; 25 years for real estate loans
- Interest Rates: Slightly higher than conventional loans, negotiated with lenders within SBA’s maximum interest rate
- Use of Loan Proceeds: Business acquisitions, real estate purchases, equipment financing, debt refinancing, partner buyouts, franchise openings, and working capital
- Down Payment: Typically 10% to 20%
- Credit Score Requirement: 680+ is ideal, with a minimum of 640 for consideration
- Collateral: Not required, but all available collateral must be pledged
SBA loans are designed for businesses that may not qualify under traditional lending standards, offering lower down payments, longer repayment terms, and fewer financial restrictions.
Surrounding Areas
Business owners in nearby areas may also find SBA lending opportunities in these cities:
Auburn, Bellevue, Bothell, Burien, Edmonds, Everett, Federal Way, Issaquah, Kent, Kirkland, Lynnwood, Redmond, Renton, Shoreline, Tacoma.
Resources for Small Businesses in Seattle
Seattle business owners have access to valuable resources to support their growth:
- Seattle SBA District Office – Provides assistance with SBA loan programs and applications.
- SCORE Seattle – Offers free business mentoring and workshops.
- Small Business Development Centers (SBDC) – Provides consulting services for small businesses.
- Seattle Metropolitan Chamber of Commerce – Connects business owners with networking and funding opportunities.
Summary
SBA loans continue to be a key funding source for small businesses in Seattle, providing necessary capital to fuel business growth and job creation. With competitive interest rates, flexible repayment terms, and strong business support, securing an SBA loan could be the key to your business’s success. If you’re looking for the best SBA lenders in Seattle, explore your options today and take the next step toward securing the right financing.