# Small business loans in Seattle, WA

**Short answer:** The most active SBA lenders in Seattle, WA since FY2024 are KeyBank (57 loans) and Columbia Bank (54). The median loan was $188,000, and half fell between $50,000 and $500,000. For free help, see the Washington Small Business Development Center. Source: SBA 7(a) loan data.

Canonical page: https://www.sbaexpress.loans/washington-small-business-loans/seattle/
Data as of: 2026-06-30

## Lenders making SBA loans in Seattle

No lender made more than 11% of the loans in Seattle, and KeyBank made the most. The five largest lenders together made 37%.

**Lenders with five or more SBA loans in Seattle, WA, FY2024 to June 2026**

| Lender | Loans | Share |
| --- | --- | --- |
| [KeyBank](https://www.sbaexpress.loans/sba-express-lenders/keybank/washington/) | 57 | 10.8% |
| [Columbia Bank](https://www.sbaexpress.loans/sba-express-lenders/columbia-bank/) | 54 | 10.2% |
| [U.S. Bank](https://www.sbaexpress.loans/sba-express-lenders/u-s-bank/) | 34 | 6.4% |
| [Washington Trust Bank](https://www.sbaexpress.loans/sba-express-lenders/washington-trust-bank/) | 27 | 5.1% |
| [Banner Bank](https://www.sbaexpress.loans/sba-express-lenders/banner-bank/) | 26 | 4.9% |

Share is the percent of all Seattle loans in that period. Each name links to that lender's page for Washington where one exists.

## Local help near Seattle

Seattle borrowers can start with SBA's district offices for Washington, an SBDC or SCORE.

29% of Seattle borrowers since FY2024 were startups or businesses two years old or younger. SBDCs provide counseling and training, and SCORE mentors give advice at no cost, according to SBA.

SBA runs two district offices that cover Washington. Each page points to state and federal resources and to lenders in its area. The Washington Small Business Development Center gives free counseling across Washington. The SBA Seattle District Office comes first below because its name matches Seattle.

- [SBA Seattle District Office: SBA district office](https://www.sba.gov/district/seattle)
- [SBA Portland District Office: SBA district office](https://www.sba.gov/district/portland)
- [Washington Small Business Development Center: Small Business Development Center](https://wsbdc.org/)
- [SCORE mentors in Washington: Business mentoring](https://www.score.org/wa/)

Alongside SBA loans, Washington runs three loan programs. The [Washington page](https://www.sbaexpress.loans/washington-small-business-loans/#loan-programs-in-washington) describes each, and the official pages are linked here.

- [Owner-Occupied Commercial Real-Estate Loan Program (CRE)](https://www.commerce.wa.gov/access-to-capital/)
- [Collateral Support Program (CSP)](https://www.commerce.wa.gov/access-to-capital/)
- [Revenue-Based Financing Fund (RBF)](https://www.commerce.wa.gov/access-to-capital/)

## Loan counts and sizes in Seattle

Seattle ranks 1st by loans since FY2024 among the 24 Washington cities with 100 or more SBA loans since FY2020. Nationally it is the 23rd busiest of the 580 cities that reach 100 loans.

The 530 loans, 11.0% of the 4,798 in Washington, were approved for $251.0 million in all. The median loan was $188,000, 25% above the national median of $150,300. Half of the loans fell between $50,000 and $500,000. The Seattle median is 25% above the Washington median of $150,000.

**Seattle, WA compared with Washington and the nation, loans from FY2024 to June 2026**

| Measure | Seattle | Washington | U.S. |
| --- | --- | --- | --- |
| Loans | 530 | 4,798 | 162,355 |
| Median loan | $188,000 | $150,000 | $150,300 |
| 25th percentile | $50,000 | $50,000 | $50,000 |
| 75th percentile | $500,000 | $500,000 | $500,000 |
| Via SBA Express | 42.3% | 45.6% | 35.8% |
| Lines of credit | 33.0% | 36.6% | 28.1% |
| Startups | 15.8% | 9.9% | 16.1% |
| Ownership changes | 12.6% | 14.5% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.75 | 2.75 | 2.75 |
| Charged off | 2.6% | 2.4% | 3.6% |

A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.

77% of the loans were $500,000 or less, the size SBA Express covers. 42.3% of all loans went through SBA Express, above the national 35.8%. Lines of credit were 33.0% of loans, above the national 28.1%.

SBA loans in Seattle, WA by size, FY2024 to June 2026

- $50,000 or less (29%): 153
- $50,001 to $150,000 (19%): 102
- $150,001 to $350,000 (19%): 100
- $350,001 to $500,000 (10%): 53
- $500,001 to $1,000,000 (10%): 53
- $1,000,001 to $2,000,000 (9%): 46
- Over $2,000,000 (4%): 23

Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.

By business age, 58.1% of loans went to businesses more than two years old and 13.2% to businesses two years old or younger. Startups received 15.8% and changes of ownership 12.6%.

SBA loans in Seattle, WA by fiscal year

- FY2020: 134
- FY2021: 105
- FY2022: 105
- FY2023: 142
- FY2024: 187
- FY2025: 206
- FY2026 (through June 30): 137

Fiscal years run October to September. The last bar covers nine of its twelve months.

Volume rose 10% from FY2024 (187 loans) to FY2025 (206), the two latest full years. The busiest full year in the file was FY2025, with 206 loans. FY2026 already shows 137 loans through June 30.

Of the 344 loans Seattle borrowers received in FY2020 to FY2022, 2.6% were charged off by June 30, 2026, against 3.6% nationally. Lenders reported 4,694 jobs supported across the 530 loans since FY2024, about 8.9 per loan. SBA does not audit these estimates.

## What businesses in Seattle borrow for

Full-Service Restaurants was the largest borrower group in Seattle, with 46 loans or 8.7% of the total.

The five largest industries made up 22% of all Seattle loans. Full-Service Restaurants runs above its national share: its 46 loans are 8.7% of Seattle loans, against 4.6% nationally.

**Industries with the most SBA loans in Seattle, WA, FY2024 to June 2026**

| Industry | Loans | Share | U.S. share |
| --- | --- | --- | --- |
| [Full-Service Restaurants](https://www.sbaexpress.loans/industries/full-service-restaurants/washington/) | 46 | 8.7% | 4.6% |
| [Limited-Service Restaurants](https://www.sbaexpress.loans/industries/limited-service-restaurants/washington/) | 24 | 4.5% | 3.3% |
| [Fitness and Recreational Sports Centers](https://www.sbaexpress.loans/industries/fitness-recreational-sports-centers/washington/) | 17 | 3.2% | 2.1% |
| [Snack and Nonalcoholic Beverage Bars](https://www.sbaexpress.loans/industries/snack-nonalcoholic-beverage-bars/washington/) | 16 | 3.0% | 1.6% |
| [Residential Remodelers](https://www.sbaexpress.loans/industries/residential-remodelers/washington/) | 15 | 2.8% | 2.3% |

Share is the percent of all Seattle loans in that period. Industry is the NAICS code on each loan. A name links to the Washington page for that industry where one exists.

## A typical loan payment in Seattle

The median Seattle loan was $188,000 with a median term of 10 years.

The median variable-rate loan in Seattle was priced at Prime plus 2.75 percentage points at approval. At today's Prime that spread works out to 9.75%. On $188,000 over 10 years, principal and interest would come to about $2,458 a month. That is arithmetic on past loans, not a rate a lender is offering.

**Payment at today's rate on three Seattle loan sizes over 10 years**

| Loan | Amount | Monthly payment |
| --- | --- | --- |
| 25th percentile loan | $50,000 | $654 |
| Median loan | $188,000 | $2,458 |
| 75th percentile loan | $500,000 | $6,539 |

Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.

SBA's rate ceiling for this loan size

SBA's maximum for a loan of $188,000 is Prime plus 6.0 percentage points, or 13.00% today. The median variable-rate loan here was priced 3.2 points under that ceiling. Source: 13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395).

Seattle loans approved since FY2024 had a median starting rate of 10.25% at approval, matching the national median. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.

Run your own numbers: [payments on a $200,000 loan](https://www.sbaexpress.loans/loan-amounts/200000-business-loan/) and [SBA Express payment calculator](https://www.sbaexpress.loans/sba-express-payment-calculator/).

## SBA 504 loans near Seattle

Seattle has 27 SBA 504 loans since FY2024, with $32.4 million in SBA and CDC dollars.

The median 504 loan in Seattle was $882,000 in SBA and CDC dollars, 18% of the $5,000,000 program maximum. The bank's share of each project is separate and is not counted in these figures.

Evergreen Business Capital is the Certified Development Company (CDC) named on the most loans since FY2024, with 14. Northwest Business Development Association follows with 10. The two CDCs listed are named on 24 loans between them.

**CDCs named on five or more 504 loans in Seattle, FY2024 to June 2026**

| Certified Development Company | 504 loans |
| --- | --- |
| Evergreen Business Capital | 14 |
| Northwest Business Development Association | 10 |

How a 504 loan is split

A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capital or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a [list of Certified Development Companies](https://www.sba.gov/loans/504-loans/list-of-certified-development-companies/).

## Washington cities near Seattle

Seattle made up 11.0% of Washington's SBA loans since FY2024.

Seattle is one of 24 Washington cities with 100 or more SBA loans since FY2020. The [Washington page](https://www.sbaexpress.loans/washington-small-business-loans/) covers all 4,798 loans in Washington. The closest come first, ranked by county and ZIP code on their loans.

- [Woodinville: 66 loans, median $350,000](https://www.sbaexpress.loans/washington-small-business-loans/woodinville/)
- [Renton: 89 loans, median $215,000](https://www.sbaexpress.loans/washington-small-business-loans/renton/)
- [Redmond: 68 loans, median $272,000](https://www.sbaexpress.loans/washington-small-business-loans/redmond/)
- [Kirkland: 82 loans, median $201,350](https://www.sbaexpress.loans/washington-small-business-loans/kirkland/)
- [Kent: 106 loans, median $203,600](https://www.sbaexpress.loans/washington-small-business-loans/kent/)
- [Bellevue: 119 loans, median $171,000](https://www.sbaexpress.loans/washington-small-business-loans/bellevue/)
- [Federal Way: 78 loans, median $201,250](https://www.sbaexpress.loans/washington-small-business-loans/federal-way/)
- [Auburn: 86 loans, median $93,250](https://www.sbaexpress.loans/washington-small-business-loans/auburn/)

## Common questions about SBA loans in Seattle

### Which lenders make the most SBA loans in Seattle?

KeyBank leads with 57 loans in Seattle since FY2024. Columbia Bank (54) and U.S. Bank (34) follow. Only lenders with five or more Seattle loans are counted.

### Which industries get SBA loans in Seattle?

Full-Service Restaurants leads with 46 loans in Seattle since FY2024. Limited-Service Restaurants (24) and Fitness and Recreational Sports Centers (17) follow.

How to read this

Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file, and city names are as SBA recorded them. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. [How we build these pages](https://www.sbaexpress.loans/method/).

## Sources

- [SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026](https://data.sba.gov/dataset/7a-504-foia)
- [SBA, 504 loans](https://www.sba.gov/loans/504-loans/)
- [SBA, resource partners: SBDCs and SCORE](https://www.sba.gov/counseling/local-assistance/resource-partners/)
- [SBA Seattle District Office](https://www.sba.gov/district/seattle)
- [SBA Portland District Office](https://www.sba.gov/district/portland)
- [Washington Small Business Development Center](https://wsbdc.org/)
- [SCORE, Washington](https://www.score.org/wa/)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)](https://www.sba.gov/loans/504-loans/)
- [SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [13 CFR § 120.214(d)(2); SOP 50 10 8.1, App. 18, Para. A.2 (p. 395)](https://www.ecfr.gov/current/title-13/section-120.214)