GoSBA’s 35 Best Seattle SBA Lenders In 2024
Introduction to Seattle SBA Loans
The U.S. Small Business Administration (SBA) Seattle District Office serves Western Washington, which has a population base of nearly 5.2 million residents. This service area is a major U.S. tourism destination and has a projected job growth rate of 39.4%, surpassing the national average. Seattle is an ideal city for small business entrepreneurs due to its diverse and prosperous economic base, which includes aerospace, technology, biotechnology, computer software, electronics, and financial services. The Port of Seattle is also the second-largest cargo container port in the United States, supporting significant international trade opportunities.
Finding the Best Seattle SBA Lenders
Finding the best and most affordable business loans can be challenging, but we make it easier by comparing all the top SBA lenders in Seattle for you. Our detailed analysis will help you identify the best SBA lenders who can provide the funding you need for your business. After reading our analysis, click “Apply Now” to get matched with the best SBA loan providers in Seattle.
Overview of Seattle SBA Loans in 2024
GoSBA Loans is proud to announce the updated rankings for the 50 Best SBA Banks providing SBA loans in Seattle in 2024. As one of the top 10 cities for small business entrepreneurs, Seattle SBA loan providers financed 1,088 businesses valued at $612.7 million in FY 2023. This substantial investment has helped Seattle maintain its position as a thriving hub for entrepreneurship, encouraging innovation and growth across a wide range of industries.
Challenges in Securing SBA Loans in Seattle
One of the biggest challenges that small businesses face is access to affordable financing. Top lenders signing SBA-backed loans in Seattle include larger banks like Wells Fargo and U.S. Bank National Association, as well as smaller players such as Heritage Bank and Columbia State Bank. These banks often have strict underwriting criteria, making it challenging for many small businesses to qualify. This is why small businesses often benefit from working with smaller and more aggressive SBA lenders in Seattle. Applicants who apply for an SBA loan with GoSBA Loans benefit from having their loan applications circulated automatically to 33 of the top 100 Seattle SBA lenders.
Top Seattle SBA Lenders by Loan Volume and Loan Units Funded
When analyzing the table of the top Seattle SBA lenders, Wells Fargo Bank, National Association, stands out as a key lender, funding $30,000 across 2 loans. Bank of Hope leads the list in terms of total funding, providing $17.3 million across 6 loans. Readycap Lending, LLC also performed impressively, funding 8 loans with a total value of $10.5 million. Umpqua Bank led in terms of the number of loans funded, issuing 24 loans totaling $1.05 million. These figures highlight the range of lending options available to small businesses in Seattle, whether they prefer larger institutions or smaller, more specialized lenders.
GoSBA’s Official Ranking: 50 Best Seattle SBA Lenders in 2024
Below, we present GoSBA’s official ranking of the 50 Best Seattle SBA Lenders in 2024:
Bank Name |
Amount Funded |
Loans Funded |
|---|---|---|
| 1st Security Bank of Washington | $154,700 | 3 |
| Bank of America, National Association | $400,000 | 2 |
| Bank of Hope | $17,384,600 | 6 |
| Banner Bank | $2,752,300 | 12 |
| BayFirst National Bank | $1,616,900 | 12 |
| Beneficial State Bank | $990,000 | 1 |
| Berkshire Bank | $3,900,000 | 2 |
| BMO Bank National Association | $807,500 | 1 |
| Cadence Bank | $350,000 | 1 |
| Celtic Bank Corporation | $351,000 | 3 |
| Coastal States Bank | $575,000 | 1 |
| Colony Bank | $220,000 | 2 |
| Customers Bank | $1,583,000 | 2 |
| East West Bank | $1,615,000 | 1 |
| Enterprise Bank & Trust | $1,260,000 | 1 |
| First Fed Bank | $1,000,000 | 1 |
| Gesa CU | $1,221,000 | 2 |
| Harborstone CU | $1,160,000 | 1 |
| Heritage Bank, Inc. | $150,000 | 1 |
| JPMorgan Chase Bank, National Association | $2,020,000 | 5 |
| KeyBank National Association | $1,703,900 | 8 |
| Lendistry SBLC, LLC | $500,000 | 2 |
| Live Oak Banking Company | $6,335,000 | 4 |
| Mountain Pacific Bank | $1,380,500 | 1 |
| Newtek Bank, National Association | $735,000 | 4 |
| Northeast Bank | $50,000 | 1 |
| Northwest Bank | $2,145,000 | 3 |
| PCB Bank | $400,000 | 1 |
| Peoples Bank | $353,000 | 2 |
| Readycap Lending, LLC | $10,498,000 | 8 |
| SaviBank | $2,000,000 | 2 |
| Sound CU | $50,000 | 2 |
| The Huntington National Bank | $1,399,900 | 8 |
| Timberland Bank | $780,000 | 2 |
| U.S. Bank, National Association | $1,993,700 | 8 |
| Umpqua Bank | $1,047,500 | 24 |
| Washington Trust Bank | $4,096,000 | 12 |
| Wells Fargo Bank, National Association | $30,000 | 2 |
Find the Right SBA Lender in Seattle for Your Business
Whether you’re a new startup or a growing business, securing the right financing is essential. The lenders listed above offer various options to help small businesses succeed in Seattle’s dynamic economy. Working with an experienced SBA loan broker like GoSBA Loans ensures that your loan application gets in front of the lenders most likely to fund your business.
Apply for an SBA Loan Today
Apply today to get connected with the best SBA lenders in Seattle and secure the funding you need to take your business to the next level. The process is simple, and GoSBA Loans will help match you with the right lender based on your unique business needs.
Apply Now to see which SBA lender is the best match for your business needs.
Why Choose GoSBA Loans?
GoSBA Loans is committed to simplifying the SBA loan application process for businesses in Seattle. By working with us, you get access to a network of lenders that have a proven track record of supporting small businesses. Whether you’re looking for competitive interest rates, a streamlined approval process, or flexible loan terms, GoSBA Loans is here to help you find the best SBA lender in Seattle.
Conclusion
Securing an SBA loan can be the key to unlocking growth opportunities for your business. With the right lender by your side, you can access the capital you need to expand, hire, and innovate. The Seattle SBA lenders listed above have demonstrated their commitment to supporting the small business community, making them excellent options for entrepreneurs in the region. Let GoSBA Loans assist you in finding the best SBA lender in Seattle for your business today.
