Local lending data
Who lends to businesses in Whatcom County?
168 SBA 7(a) loans went to businesses in Whatcom County recently, at a median of $191,000. The lenders that made them, ranked, with local rates and startup share.
168 SBA 7(a) loans went to businesses in Whatcom County in the most recent fiscal years, at a median of $191,000. The most active lender was Harborstone CU, with 18 loans.
SBA lending in Whatcom 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 | Whatcom County | Washington | National |
|---|---|---|---|
| Loans approved | 168 | 6,051 | 214,102 |
| Median loan | $191,000 | $150,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $522,250 | $50,000 - $500,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years | 10 years |
| Median initial rate | 9.50% | 10.25% | 10.25% |
| Share to startups | 25.6% | 29.4% | 33.6% |
| Charge-off rate, FY2010-19 | 3.9% | 4.9% | 7.1% |
| Jobs supported | 1,292 | 52,575 | 2,142,602 |
Which lenders actually funded them
Ranked by loans approved to businesses in Whatcom 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 |
|---|---|---|---|---|
| Harborstone CU | 18 | $323,500 | 28% | 10.00% |
| U.S. Bank | 18 | $48,000 | 28% | 8.88% |
| Banner Bank | 18 | $67,500 | 17% | 9.25% |
| Peoples Bank | 10 | $245,500 | 10% | 8.34% |
| KeyBank | 10 | $101,650 | 50% | 10.74% |
| Heritage Bank | 7 | $342,000 | 14% | 8.50% |
| Columbia Bank | 7 | $50,000 | 0% | 11.75% |
| Readycap Lending, LLC | 6 | $50,000 | 0% | 14.25% |
| Live Oak Banking Company | 6 | $945,750 | 17% | 9.25% |
| Bank of the Pacific | 6 | $225,000 | 67% | 7.75% |
What stands out here
Reading these figures against the national picture:
- Loans here run larger than average. The median of $191,000 is 27% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- Startup share is about average, at 26% against 34% nationally.
- No single lender dominates, but the top three made 32% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.50% is 0.75 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
- This market has performed well. Its FY2010-2019 charge-off rate of 3.9% is below the 7.1% overall figure, which is part of why lenders compete for it.
Who borrows in Whatcom County
The mix of industries taking SBA loans here, led by retail.
| Sector | Loans | Share |
|---|---|---|
| Retail | 33 | 19.6% |
| Construction | 24 | 14.3% |
| Restaurants and Hotels | 21 | 12.5% |
| Manufacturing | 17 | 10.1% |
| Trucking | 16 | 9.5% |
| Healthcare | 12 | 7.1% |
| Personal Services | 9 | 5.4% |
| Professional Services | 8 | 4.8% |
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, Yakima County