Lenders › Harborstone CU
7(a) lenderLakewood, Washingtoncredit union226th of 2,184 by approvals
Harborstone CU
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
In FY2021 to FY2025 SBA approved 164 7(a) loans, worth $135M, through Harborstone CU of Lakewood, Washington, a credit union in the SBA 7(a) program. By number of approvals that is 226th among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 52 approvals totalling $29.8M, up 79% on FY2024 (29). FY2026 to 30 Jun 2026 adds 17 more.
The median approval was $500K, against $190K for the 7(a) program as a whole; 14.6% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 4 states and territories and 28 counties, led by Washington (76.2%), Oregon (18.9%) and Alaska (4.3%). The largest industry group was accommodation and food services at 19.5% of approvals, and 3.7% of approvals were to franchise businesses.
Of 251 disbursed loans approved in FY2010 to FY2021, SBA records 13 as charged off (5.2%), 176 as paid in full and 62 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 17 | $7.5M | $326K | $439K | 150 |
| FY2025 | 52 | $29.8M | $350K | $574K | 737 |
| FY2024 | 29 | $16.1M | $390K | $553K | 498 |
| FY2023 | 25 | $19.0M | $460K | $759K | 251 |
| FY2022 | 24 | $29.0M | $823K | $1.2M | 335 |
| FY2021 | 34 | $41.3M | $762K | $1.2M | 372 |
| FY2020 | 20 | $20.3M | $808K | $1.0M | 225 |
| FY2019 | 25 | $13.4M | $375K | $538K | 370 |
| FY2018 | 36 | $17.1M | $348K | $475K | 539 |
| FY2017 | 28 | $13.9M | $260K | $495K | 278 |
| FY2016 | 26 | $11.5M | $159K | $441K | 158 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 135 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Washington | 7(a) program |
|---|---|---|---|
| Approvals in these years | 282 | 17,200 | 639,905 |
| Cancelled or never disbursed | 31 | 2,118 | 79,313 |
| Disbursed loans | 251 | 15,082 | 560,592 |
| Paid in full | 176 | 12,092 | 435,813 |
| Charged off | 13 | 678 | 36,891 |
| Still outstanding (status exempt from disclosure) | 62 | 2,312 | 87,888 |
| Charged off, share of disbursed loans | 5.2% | 4.5% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.5% | 1.6% | 2.5% |
| Dollars charged off | $2.5M | $114M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 32 | 9 | 0 | 0.0% | 2.8% |
| FY2020 | 18 | 6 | 2 | — | 4.0% |
| FY2019 | 19 | 8 | 1 | — | 6.7% |
| FY2018 | 31 | 19 | 3 | 9.7% | 7.9% |
| FY2017 | 27 | 22 | 1 | — | 7.7% |
| FY2016 | 25 | 21 | 1 | — | 7.2% |
| FY2015 | 30 | 27 | 2 | 6.7% | 6.9% |
| FY2014 | 34 | 31 | 1 | 2.9% | 6.4% |
| FY2013 | 18 | 18 | 0 | — | 6.0% |
| FY2012 | 11 | 10 | 1 | — | 6.3% |
| FY2011 | 5 | 5 | 0 | — | 6.9% |
| FY2010 | 1 | 0 | 1 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $500K | $190K |
| Average approval | $824K | $518K |
| Approvals of $150,000 or less | 14.6% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 32.9% | 34.3% |
| Approvals to franchise businesses | 3.7% | 11.5% |
| Jobs supported per approval, as reported | 13.4 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 5.2% | 6.6% |
States served
| # | State of the business (4 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Washington | 125 | $96.9M | 76.2% | |
| 2 | Oregon | 31 | $25.5M | 18.9% | |
| 3 | Alaska | 7 | $12.5M | 4.3% | |
| 4 | Idaho | 1 | — | 0.6% |
In Washington the lender accounts for 1.5% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (28 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | King County, WA | 31 | $30.3M | 18.9% | |
| 2 | Whatcom County, WA | 23 | $21.3M | 14.0% | |
| 3 | Skagit County, WA | 15 | $10.5M | 9.1% | |
| 4 | Clackamas County, OR | 12 | $6.4M | 7.3% | |
| 5 | Island County, WA | 11 | $4.5M | 6.7% | |
| 6 | Snohomish County, WA | 10 | $8.7M | 6.1% | |
| 7 | Pierce County, WA | 8 | $5.1M | 4.9% | |
| 8 | Washington County, OR | 8 | $4.3M | 4.9% | |
| 9 | Thurston County, WA | 7 | $6.4M | 4.3% | |
| 10 | Kitsap County, WA | 5 | $2.3M | 3.0% | |
| 11 | Multnomah County, OR | 4 | $7.4M | 2.4% | |
| 12 | Clark County, WA | 4 | $2.3M | 2.4% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 32 | 19.5% | |
| 2 | Construction | 20 | 12.2% | |
| 3 | Retail Trade | 20 | 12.2% | |
| 4 | Manufacturing | 18 | 11.0% | |
| 5 | Health Care and Social Assistance | 16 | 9.8% | |
| 6 | Professional, Scientific, and Technical Services | 13 | 7.9% | |
| 7 | Wholesale Trade | 11 | 6.7% | |
| 8 | Other Services (except Public Administration) | 9 | 5.5% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 24 | 14.6% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 8 | 4.9% | |
| 3 | Bakeries and Tortilla ManufacturingNAICS 3118 | 6 | 3.7% | |
| 4 | Traveler AccommodationNAICS 7211 | 5 | 3.0% | |
| 5 | Computer Systems Design and Related ServicesNAICS 5415 | 5 | 3.0% | |
| 6 | Personal Care ServicesNAICS 8121 | 5 | 3.0% | |
| 7 | Offices of Other Health PractitionersNAICS 6213 | 5 | 3.0% | |
| 8 | Miscellaneous Durable Goods Merchant WholesalersNAICS 4239 | 4 | 2.4% | |
| 9 | Continuing Care Retirement Communities and Assisted Living Facilities for the ElderlyNAICS 6233 | 4 | 2.4% | |
| 10 | Services to Buildings and DwellingsNAICS 5617 | 4 | 2.4% |
Approval sizes
- $50,000 or less4.9%8
- $50,001 to $150,0009.8%16
- $150,001 to $350,00022.0%36
- $350,001 to $1 million37.2%61
- $1 million to $2 million15.2%25
- Over $2 million11.0%18
Loan terms
- 5 years or less2.4%4
- Over 5 to 10 years70.7%116
- Over 10 to 20 years9.8%16
- Over 20 years17.1%28
Age of the businesses
- Existing, more than 2 years old37.8%62
- New business, 2 years or less17.7%29
- Startup, loan funds will open the business15.2%25
- Change of ownership29.3%48
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 120 | 73.2% | |
| 2 | SBA Express Program | 30 | 18.3% | |
| 3 | 7a General | 10 | 6.1% | |
| 4 | 7(a) WCP | 2 | 1.2% | |
| 5 | International Trade Loans | 1 | 0.6% | |
| 6 | Working Capital CAPLine | 1 | 0.6% |
Franchise share
6 of 164 approvals in FY2021–FY2025 (3.7%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Kampgrounds of America | 2 | 1.2% | |
| 2 | Dairy Queen of the Pacific Northwest | 2 | 1.2% | |
| 3 | Abbey Carpet & Floor | 1 | 0.6% | |
| 4 | Signs by Tomorrow | 1 | 0.6% |
Questions and answers
How many SBA loans does Harborstone CU make?
SBA approved 52 7(a) loans through Harborstone CU in FY2025, worth $29.8M, and 164 over FY2021 to FY2025. That ranks 226th of 2,184 active 7(a) lenders by number of approvals.
How large are Harborstone CU's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $500K and the average $824K. The program-wide median was $190K.
What is Harborstone CU's charge-off rate?
Of 251 disbursed loans approved in FY2010 to FY2021, SBA records 13 as charged off (5.2%), 176 as paid in full and 62 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Harborstone CU lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (24); building equipment contractors (8); bakeries and tortilla manufacturing (6); traveler accommodation (5).
Where does Harborstone CU make SBA loans?
In 4 states and territories. Washington 125, Oregon 31, Alaska 7, Idaho 1. In Washington it accounts for 1.5% of all 7(a) approvals.
Is Harborstone CU's SBA lending rising?
Approvals in the three latest complete fiscal years total 106, against 78 in the three before: rising (+36%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error