SBA Lenders in Washington
Top lenders ranked by real SBA lending data. See who's most active in Washington across deal count, loan size, and pricing.
What Borrowers Should Know
Washington's median 7(a) spread of P+2.30% is 45 basis points cheaper than the national median of P+2.75%, meaning borrowers here pay materially lower interest rates. This competitive pricing reflects a concentrated lender market where the top 5 lenders control roughly 60% of deal volume, driving down margins through competition.
With 4,509 total SBA deals and an average deal size of $410,694, Washington's market shows strong small business lending activity ($1.85B in volume). However, 201 active lenders serving this demand means each lender originates roughly 22 deals annually on average—suggesting many lenders have thin presence and borrowers should verify lender experience in their specific industry.
U.S. Bank dominates Washington with 740 deals (16% of all SBA lending), more than doubling the #2 lender. While this creates liquidity and consistency, borrowers should shop other players like Banner Bank (398 deals) or Columbia Bank (393 deals)—they're large enough to fund mid-market deals but may offer faster underwriting with less bureaucracy than the category leader.
Total SBA Loans
4,509
Active Lenders
157
Avg Deal Size
$411K
Total Volume
$1.9B
Top 10 Lenders in Washington
Ranked by total deal count across all SBA programs.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | Bank | 745 | $146K | P + 1.84%GOOD | |
| 2 | Banner Bank | Bank | 424 | $251K | P + 1.88%GOOD | |
| 3 | Columbia Bank | Bank | 417 | $282K | P + 2.19%GOOD | |
| 4 | KeyBank National Association | Bank | 303 | $326K | P + 2.00%GOOD | |
| 5 | Wells Fargo Bank National Association | Bank | 228 | $302K | P + 2.25%GOOD | |
| 6 | JPMorgan Chase Bank, National Association | Bank | 203 | $255K | P + 2.41%AVERAGE | |
| 7 | Evergreen Business Capital | Bank | 140 | $772K | — | |
| 8 | Northwest Business Development | CDC/504 | 130 | $849K | — | |
| 9 | Washington Trust Bank | Bank | 120 | $585K | P + 1.43%COMPETITIVE | |
| 10 | Heritage Bank | Bank | 113 | $753K | P + 2.00%GOOD |
Top Industries in Washington
SBA lending activity by industry segment.