SBA Loans in Washington

Washington businesses received $1.13B in SBA 7(a) loan approvals across 2,218 businesses in 2025, supporting 17,834 jobs. With 121 active SBA lenders competing for business in Washington, comparing offers is essential — rates vary significantly by lender.

The average SBA loan in Washington is $508K at 10.37%, which is 0.05% above the national average of 10.32%. The top lender in Washington is Readycap Lending, LLC, with the most-funded industry being Full-Service Restaurants.

SBA Loans in Washington by Business Type

Whether you’re starting a business, buying one, or expanding an existing operation in Washington, here’s how SBA lending breaks down:

Startups represent 13% of Washington SBA loans (209 loans totaling $148.6M). Business acquisitions (change of ownership) account for 33% (324 loans, $368.9M). Existing businesses make up the largest share at 42% (1302 loans). If you’re buying a business in Washington, acquisitions are a well-established use case for SBA 7(a) loans.

Washington vs. National Average

How does Washington’s SBA lending market compare to the national average in 2025?

A rate higher than the national average of 10.32% is significant context for Washington borrowers. Individual rates depend on your credit profile, deal structure, loan size, and the specific lender you work with — which is why comparing multiple offers from different banks is consistently the best strategy to get the lowest possible rate on your SBA loan.

Top SBA Lenders in Washington (2025 Data)

The table below ranks every SBA 7(a) lender active in Washington in 2025 by total dollar volume approved. This data comes directly from SBA FOIA records and represents actual funded loans — not pre-qualifications or applications received.

Pay close attention to the “Avg Rate” column — rates vary significantly between lenders operating in the same state. The spread between the lowest and highest rate in this table can represent tens of thousands of dollars over the life of your loan. The top lenders in Washington have funded the most deals locally, meaning their loan officers understand Washington’s commercial real estate values, industry mix, and economic conditions. This familiarity typically translates into faster underwriting and more competitive terms.

However, don’t limit your search to local banks alone. Many of the top national SBA lenders fund loans across all 50 states and may offer better rates or more experience with your specific industry. An SBA loan broker like GoSBA gives you access to both Washington-based lenders and national lenders with a single application — ensuring you get the most competitive offer available.

Top Industries Funded in Washington

SBA lending in Washington reflects the state’s economic profile and business formation trends. The table below shows which industries received the most SBA 7(a) funding in Washington in 2025, ranked by total dollar volume:

If your business operates in one of Washington’s top-funded industries, you’re in a strong position. Lenders who have funded dozens of similar businesses in your state understand the unit economics, seasonal revenue patterns, and typical margins for your sector. This familiarity translates into faster approvals, less documentation back-and-forth, and more accurate risk pricing — which typically means better terms for the borrower.

Even if your industry isn’t listed above, SBA 7(a) loans are available for nearly every legal business type. An SBA loan broker can identify which lenders have the most experience with your specific industry.

Top Cities for SBA Loans in Washington

SBA lending activity within Washington is concentrated in major metropolitan areas, but businesses in smaller cities and towns also receive significant funding. The table below shows where in Washington the most SBA 7(a) loans were funded in 2025:

How to Get an SBA Loan in Washington

Option 1: Apply directly to one of the top Washington lenders above. You’ll get a single quote from one bank.

Option 2: Use an SBA loan broker (recommended). GoSBA Loans submits your application to multiple Washington-active lenders simultaneously, creating competition for your deal. Better rates, faster approvals — at no cost to you.

Frequently Asked Questions

Data sourced from official SBA 7(a) FOIA loan approval records for Calendar Year 2025, published by the U.S. Small Business Administration. For official information, visit sba.gov.