States › Washington › Whatcom County
County7th of 39 in Washington by approvalsFIPS 53073
SBA loans in Whatcom 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 259 loans to businesses in Whatcom County, Washington, in FY2021 to FY2025, worth $176M: 209 under 7(a) and 50 under 504.
That is 36.2 approvals per 1,000 business establishments (7,146 establishments in 2023), below the Washington figure of 44.0 and close to the national 41.0.
It ranks 7th of 39 Washington counties with approvals. In FY2025 there were 68, up 17% on FY2024.
51 lenders had approvals here; the most active were Banner Bank (33), Harborstone CU (23) and Ameritrust CDC (20). 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 Whatcom County
By number of approvals to businesses in the county, FY2021–FY2025; 51 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Banner BankWalla Walla, WA | 33 | $5.6M | 12.7% | |
| 2 | Harborstone CULakewood, WA | 23 | $21.3M | 8.9% | |
| 3 | Ameritrust CDCEdmonds, WA · CDC | 20 | $14.0M | 7.7% | |
| 4 | Northwest Business Development AssociationSpokane Valley, WA · CDC | 19 | $17.6M | 7.3% | |
| 5 | U.S. Bank, National AssociationCincinnati, OH | 17 | $2.3M | 6.6% | |
| 6 | KeyBank National AssociationCleveland, OH | 16 | $2.7M | 6.2% | |
| 7 | Evergreen Business CapitalSeattle, WA · CDC | 11 | $8.9M | 4.2% | |
| 8 | Whatcom Educational CUBellingham, WA | 9 | $2.2M | 3.5% | |
| 9 | Peoples BankBellingham, WA | 8 | $5.7M | 3.1% | |
| 10 | Bank of the PacificAberdeen, WA | 8 | $4.9M | 3.1% | |
| 11 | Heritage BankOlympia, WA | 7 | $5.2M | 2.7% | |
| 12 | Readycap Lending, LLCBerkeley Heights, NJ | 6 | $6.4M | 2.3% | |
| 13 | Wells Fargo Bank National AssociationSioux Falls, SD | 6 | $1.1M | 2.3% | |
| 14 | BayFirst National BankSaint Petersburg, FL | 6 | $831K | 2.3% | |
| 15 | Live Oak Banking CompanyWilmington, NC | 5 | $12.2M | 1.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 20 | 7.7% | |
| 2 | General Freight TruckingNAICS 4841 | 18 | 6.9% | |
| 3 | Offices of Other Health PractitionersNAICS 6213 | 16 | 6.2% | |
| 4 | Building Finishing ContractorsNAICS 2383 | 9 | 3.5% | |
| 5 | Gasoline StationsNAICS 4571 | 8 | 3.1% | |
| 6 | Beverage ManufacturingNAICS 3121 | 8 | 3.1% | |
| 7 | Residential Building ConstructionNAICS 2361 | 8 | 3.1% | |
| 8 | Automotive Repair and MaintenanceNAICS 8111 | 7 | 2.7% | |
| 9 | Traveler AccommodationNAICS 7211 | 6 | 2.3% | |
| 10 | Offices of DentistsNAICS 6212 | 6 | 2.3% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 52 | 20.1% | |
| 2 | Construction | 33 | 12.7% | |
| 3 | Health Care and Social Assistance | 31 | 12.0% | |
| 4 | Accommodation and Food Services | 28 | 10.8% | |
| 5 | Manufacturing | 27 | 10.4% | |
| 6 | Transportation and Warehousing | 22 | 8.5% | |
| 7 | Other Services (except Public Administration) | 16 | 6.2% | |
| 8 | Professional, Scientific, and Technical Services | 12 | 4.6% |
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* | 41 | $28.1M | $300K | 4 | $1.8M | 45 | 314 |
| FY2025 | 61 | $29.1M | $180K | 7 | $7.3M | 68 | 485 |
| FY2024 | 49 | $26.3M | $150K | 9 | $10.6M | 58 | 448 |
| FY2023 | 27 | $20.4M | $150K | 4 | $2.5M | 31 | 288 |
| FY2022 | 33 | $29.6M | $253K | 15 | $10.6M | 48 | 473 |
| FY2021 | 39 | $29.8M | $350K | 15 | $9.5M | 54 | 501 |
| FY2020 | 21 | $8.6M | $150K | 12 | $9.7M | 33 | 325 |
| FY2019 | 46 | $34.0M | $303K | 14 | $13.5M | 60 | 836 |
| FY2018 | 61 | $27.6M | $214K | 9 | $5.7M | 70 | 590 |
| FY2017 | 60 | $22.9M | $150K | 7 | $1.6M | 67 | 375 |
| FY2016 | 70 | $34.1M | $100K | 8 | $6.6M | 78 | 592 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 308 approvals.
Against Washington and the country
| FY2021–FY2025 | Whatcom County | Washington | United States |
|---|---|---|---|
| Approvals | 259 | 8,905 | 342,825 |
| Approvals per 1,000 establishments | 36.2 | 44.0 | 41.0 |
| Median 7(a) approval | $200K | $200K | $190K |
| Median 504 approval | $537K | $699K | $657K |
| Average approval | $678K | $627K | $573K |
| 504 share of approvals | 19.3% | 7.8% | 11.0% |
| Jobs supported per approval, as reported | 8.5 | 9.2 | 10.5 |
| Share of state approvals | 2.9% | 100.0% | — |
Approval sizes
- $50,000 or less19.7%51
- $50,001 to $150,00017.0%44
- $150,001 to $350,00018.5%48
- $350,001 to $1 million27.8%72
- $1 million to $2 million8.5%22
- Over $2 million8.5%22
Age of the businesses
- Existing, more than 2 years old60.6%157
- New business, 2 years or less15.4%40
- Startup, loan funds will open the business8.9%23
- Change of ownership14.7%38
- Not answered0.4%1
Questions and answers
Which lenders make the most SBA loans in Whatcom County?
By approvals in FY2021 to FY2025: Banner Bank (33), Harborstone CU (23), Ameritrust CDC (20), Northwest Business Development Association (19), U.S. Bank, National Association (17). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Whatcom County?
The median 7(a) approval was $200K and the median 504 approval $537K; the Washington 7(a) median was $200K.
Which industries get the most SBA loans in Whatcom County?
Restaurants and Other Eating Places (20); General Freight Trucking (18); Offices of Other Health Practitioners (16); Building Finishing Contractors (9); Gasoline Stations (8).
Is SBA lending in Whatcom County rising?
Approvals in the three latest complete fiscal years total 157, against 135 in the three before: rising (+16%).
How does Whatcom County compare with the rest of Washington?
36.2 approvals per 1,000 establishments against 44.0 statewide, and 259 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