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County11th of 39 in Washington by approvalsFIPS 53057
SBA loans in Skagit County, Washington
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA approved 173 loans to businesses in Skagit County, Washington, in FY2021 to FY2025, worth $130M: 137 under 7(a) and 36 under 504.
That is 47.1 approvals per 1,000 business establishments (3,670 establishments in 2023), close to the Washington figure of 44.0 and close to the national 41.0.
It ranks 11th of 39 Washington counties with approvals. In FY2025 there were 42, about level with FY2024.
37 lenders had approvals here; the most active were Northwest Business Development Association (23), Banner Bank (20) and U.S. Bank, National Association (19). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Skagit County
By number of approvals to businesses in the county, FY2021–FY2025; 37 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Northwest Business Development AssociationSpokane Valley, WA · CDC | 23 | $17.4M | 13.3% | |
| 2 | Banner BankWalla Walla, WA | 20 | $1.1M | 11.6% | |
| 3 | U.S. Bank, National AssociationCincinnati, OH | 19 | $6.8M | 11.0% | |
| 4 | Harborstone CULakewood, WA | 15 | $10.5M | 8.7% | |
| 5 | Ameritrust CDCEdmonds, WA · CDC | 7 | $8.2M | 4.0% | |
| 6 | Columbia BankLake Oswego, OR | 7 | $279K | 4.0% | |
| 7 | Evergreen Business CapitalSeattle, WA · CDC | 6 | $12.1M | 3.5% | |
| 8 | Live Oak Banking CompanyWilmington, NC | 6 | $7.9M | 3.5% | |
| 9 | Northeast BankLewiston, ME | 6 | $1.1M | 3.5% | |
| 10 | Mountain Pacific BankEverett, WA | 5 | $5.0M | 2.9% | |
| 11 | Readycap Lending, LLCBerkeley Heights, NJ | 5 | $4.3M | 2.9% | |
| 12 | Peoples BankBellingham, WA | 5 | $3.0M | 2.9% | |
| 13 | Heritage BankOlympia, WA | 5 | $1.9M | 2.9% | |
| 14 | Wells Fargo Bank National AssociationSioux Falls, SD | 4 | $2.1M | 2.3% | |
| 15 | Hanmi BankLos Angeles, CA | 3 | $4.7M | 1.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 22 | 12.7% | |
| 2 | Traveler AccommodationNAICS 7211 | 11 | 6.4% | |
| 3 | Grocery StoresNAICS 4451 | 9 | 5.2% | |
| 4 | Residential Building ConstructionNAICS 2361 | 9 | 5.2% | |
| 5 | Gasoline StationsNAICS 4571 | 5 | 2.9% | |
| 6 | General Freight TruckingNAICS 4841 | 5 | 2.9% | |
| 7 | FishingNAICS 1141 | 5 | 2.9% | |
| 8 | Automotive Repair and MaintenanceNAICS 8111 | 5 | 2.9% | |
| 9 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 2.9% | |
| 10 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 4 | 2.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 35 | 20.2% | |
| 2 | Retail Trade | 30 | 17.3% | |
| 3 | Construction | 21 | 12.1% | |
| 4 | Health Care and Social Assistance | 16 | 9.2% | |
| 5 | Transportation and Warehousing | 15 | 8.7% | |
| 6 | Manufacturing | 14 | 8.1% | |
| 7 | Professional, Scientific, and Technical Services | 7 | 4.0% | |
| 8 | Other Services (except Public Administration) | 7 | 4.0% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 26 | $6.9M | $57K | 2 | — | 28 | 113 |
| FY2025 | 35 | $25.5M | $200K | 7 | $5.0M | 42 | 435 |
| FY2024 | 34 | $11.1M | $77K | 7 | $12.9M | 41 | 411 |
| FY2023 | 21 | $25.1M | $650K | 4 | $4.1M | 25 | 180 |
| FY2022 | 30 | $20.4M | $290K | 10 | $5.1M | 40 | 272 |
| FY2021 | 17 | $10.4M | $294K | 8 | $10.6M | 25 | 201 |
| FY2020 | 19 | $16.5M | $527K | 4 | $2.2M | 23 | 134 |
| FY2019 | 31 | $17.0M | $201K | 7 | $6.0M | 38 | 402 |
| FY2018 | 29 | $9.2M | $263K | 8 | $3.1M | 37 | 407 |
| FY2017 | 29 | $25.8M | $454K | 5 | $4.0M | 34 | 415 |
| FY2016 | 31 | $12.5M | $175K | 4 | $1.8M | 35 | 271 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 167 approvals.
Against Washington and the country
| FY2021–FY2025 | Skagit County | Washington | United States |
|---|---|---|---|
| Approvals | 173 | 8,905 | 342,825 |
| Approvals per 1,000 establishments | 47.1 | 44.0 | 41.0 |
| Median 7(a) approval | $200K | $200K | $190K |
| Median 504 approval | $596K | $699K | $657K |
| Average approval | $753K | $627K | $573K |
| 504 share of approvals | 20.8% | 7.8% | 11.0% |
| Jobs supported per approval, as reported | 8.7 | 9.2 | 10.5 |
| Share of state approvals | 1.9% | 100.0% | — |
Approval sizes
- $50,000 or less26.0%45
- $50,001 to $150,00012.1%21
- $150,001 to $350,00011.0%19
- $350,001 to $1 million26.0%45
- $1 million to $2 million13.3%23
- Over $2 million11.6%20
Age of the businesses
- Existing, more than 2 years old49.1%85
- New business, 2 years or less26.6%46
- Startup, loan funds will open the business9.8%17
- Change of ownership14.5%25
Questions and answers
Which lenders make the most SBA loans in Skagit County?
By approvals in FY2021 to FY2025: Northwest Business Development Association (23), Banner Bank (20), U.S. Bank, National Association (19), Harborstone CU (15), Ameritrust CDC (7). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Skagit County?
The median 7(a) approval was $200K and the median 504 approval $596K; the Washington 7(a) median was $200K.
Which industries get the most SBA loans in Skagit County?
Restaurants and Other Eating Places (22); Traveler Accommodation (11); Grocery Stores (9); Residential Building Construction (9); Gasoline Stations (5).
Is SBA lending in Skagit County rising?
Approvals in the three latest complete fiscal years total 108, against 88 in the three before: rising (+23%).
How does Skagit County compare with the rest of Washington?
47.1 approvals per 1,000 establishments against 44.0 statewide, and 173 of the state's 8,905 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error