Local lending data
Who lends to businesses in Skagit County?
103 SBA 7(a) loans went to businesses in Skagit County recently, at a median of $100,600. The lenders that made them, ranked, with local rates and startup share.
103 SBA 7(a) loans went to businesses in Skagit County in the most recent fiscal years, at a median of $100,600. The most active lender was U.S. Bank, with 19 loans.
SBA lending in Skagit County, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans that were actually approved to businesses in this county, not advertised ranges.
| Measure | Skagit County | Washington | National |
|---|---|---|---|
| Loans approved | 103 | 6,051 | 214,102 |
| Median loan | $100,600 | $150,000 | $150,000 |
| 25th - 75th percentile | $40,000 - $650,000 | $50,000 - $500,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 9.99% | 10.25% | 10.25% |
| Share to startups | 39.8% | 29.4% | 33.6% |
| Charge-off rate, FY2010-19 | 4.9% | 4.9% | 7.1% |
| Jobs supported | 770 | 52,575 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Skagit County. The median, startup share and rate columns describe each lender's own loans in this county, not its national averages.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| U.S. Bank | 19 | $25,000 | 63% | 9.24% |
| Banner Bank | 16 | $50,000 | 38% | 9.62% |
| Harborstone CU | 8 | $660,750 | 38% | 10.38% |
| Columbia Bank | 7 | $50,000 | 0% | 12.50% |
| Live Oak Banking Company | 6 | $915,000 | 83% | 9.25% |
| Mountain Pacific Bank | 5 | $804,000 | 0% | 8.75% |
| Peoples Bank | 4 | $721,500 | 0% | 7.62% |
| Readycap Lending, LLC | 4 | $350,000 | 0% | 12.38% |
| Washington Trust Bank | 3 | $500,000 | 67% | 9.00% |
| KeyBank | 3 | $30,000 | 67% | 12.13% |
What stands out here
Reading these figures against the national picture:
- Loans here run smaller than average. The median of $100,600 is 33% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- Startup share is about average, at 40% against 34% nationally.
- No single lender dominates, but the top three made 42% of these loans, so the shortlist below covers most of the active market.
- This market has performed well. Its FY2010-2019 charge-off rate of 4.9% is below the 7.1% overall figure, which is part of why lenders compete for it.
Who borrows in Skagit County
The mix of industries taking SBA loans here, led by retail.
| Sector | Loans | Share |
|---|---|---|
| Retail | 23 | 22.3% |
| Restaurants and Hotels | 20 | 19.4% |
| Construction | 17 | 16.5% |
| Trucking | 6 | 5.8% |
| Agriculture | 6 | 5.8% |
| Professional Services | 6 | 5.8% |
| Admin Services | 5 | 4.9% |
| Personal Services | 5 | 4.9% |
How to use this
- Shortlist three lenders from the table whose median loan in this county is close to what you need. Size match matters more than brand.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year — see choosing an SBA lender.
- Check your coverage first with the affordability calculator, so you ask for a number your cash flow supports.
- Follow your sector link in the table above for lender data specific to your industry across Washington.
Other counties in Washington
- Nearby markets with published data: King County, Pierce County, Snohomish County, Clark County, Spokane County, Thurston County, Kitsap County, Whatcom County