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Small Businesses in Oregon, Southwest Washington Access More Than $475 Million in SBA Loans to Start, Grow in FY 2019

SBA Portland District reaches more than 1,000 approved loans Nationally, loan volume reaches more than $28 billion with more than 63,000 approved loans
Release Date: 
Wednesday, October 16, 2019
Contact: 
sean.wilson@sba.gov

PORTLAND, Ore.  – The U.S. Small Business Administration (SBA) Portland District Office – serving Oregon and southwest Washington – announces FY 2019 lending numbers showing that it guaranteed more than $475 million to small businesses that otherwise would not have had access to capital. Nationally, SBA loan volume in FY 2019 reached more than $28 billion.

“Access to capital is consistently one of the top challenges entrepreneurs and small businesses encounter making the SBA Loan Guarantee Program a vital resource to economic growth and job creation,” SBA Pacific Northwest Regional Administrator Jeremy Field said. “In an increasingly digital credit marketplace, the SBA has cut loan processing times in half during the past year and expanded online tools like Lender Match to connect small businesses with the right lender fast.”

During FY 2019 there were 984 7(a) loans made in the SBA Portland District, 52,000 nationally. The total dollar amount of 7(a) loans in the SBA Portland District was more than $418 million and $23.17 billion nationally.

The 7(a) program is SBA’s flagship program, which offers guarantees on loans to small businesses up to $5 million on reasonable terms and conditions. 7(a) loans are commonly used for acquiring land, purchasing equipment, or working capital.

The SBA’s 504 loan program – which provides small businesses with long-term, fixed-rate financing to acquire fixed assets for expansion or modernization – had another year of high performance for lending, with 71 loans in the SBA Portland District made for a total dollar amount of more than $56 million. Nationally, 6,099 loans made for a total dollar amount of more than $4.9 billion.

In FY 2019 there was significant growth in the SBA’s smaller loans, including a record volume of dollars lent in the Microloan Programs.

Nationally, more than 5,500 loans were approved for more than $81.5 million in the Microloan program.

Specifically in Oregon, more than 176 loans were approved for more than $2 million in the Microloan Program.

“The SBA Portland District is proud of its role in providing the tools, resources and access to capital to help our small business community succeed and thrive,” SBA Portland District Director Martin Golden said.  “Our loan programs in FY 2019 continue to show strong performance and we are excited about our continued work in expanding business opportunities to our rural communities.”

The following were the top 10 industries to receive SBA loans in the SBA Portland District by number of approved loans. Industries are categorized using North American Industry Classification System (NAICS) codes:

Top 10 Industries by Number of Loans           

                        Industry                                               Number of Loans          Loan Volume

  1. Accommodation and Food Services                                                163                          $81.9 million
  2. Construction                                                                                             153                           $31.9 million
  3. Retail Trade                                                                                               135                           $80.6 million
  4. Professional, Scientific, & Tech Services                                         99                           $42.6 million
  5. Health Care & Social Assistance                                                          82                           $40.5 million
  6. Manufacturing                                                                                            82                           $46.5 million     
  7. Other Services. (except Public Administration)                           64                           $25.4 million
  8. Transportation and Warehousing                                                      45                           $15.5 million
  9. Wholesale Trade                                                                                        41                           $24.9 million
  10. Administrative Support & Waste Management &                        41                           $14.4 million
    Remediation Services

The following were the top 10 SBA lenders in the SBA Portland District by number of approved loans numbers:

Top 10 SBA Lenders Based on Number of Approved Loans           

                                Lender                                                                     Number of loans           Loan Volume  

  1. Columbia State Bank                                                                             186                        $19,753,700
  2. U.S. Bank National Association                                                         184                        $24,015,700
  3. Wells Fargo Bank, National Association                                           73                        $23,082,100
  4. KeyBank National Association                                                              62                        $41,364,000
  5. Banner Bank                                                                                                 57                        $12,467,900
  6. JPMorgan Chase Bank, National Association                                 30                        $9,357,700
  7. Umpqua Bank                                                                                              28                        $18,159,300
  8. Pacific Western Bank                                                                                 23                        $28,101,500
  9. First Home Bank                                                                                          22                        $4,910,00
  10. Seacoast Commerce Bank                                                                      19                        $25,768,800

The SBA continued to innovate and improve processes by leveraging enhanced technologies. Lender Match is an SBA technology platform that gives entrepreneurs the ability to complete a quick online form, without registration or cost, and be connected with an approved SBA lender within 48 hours.

To date, Lender Match has generated 4.4 million leads on behalf of small businesses to SBA lenders and more than 230,000 unique borrowers have been contacted by lenders with financing options. 

For more information about SBA’s loan programs, financial assistance and other services, visit www.sba.gov.

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About the 7(a) and 504 Loan Programs

The 7(a) Loan Program is the SBA's primary program for providing financial assistance to small businesses and offers guarantees on loans to small businesses of up to $5 million on reasonable terms and conditions. 7(a) loans are commonly used for acquiring land, purchasing equipment, or working capital. The CDC/504 loan program helps small businesses acquire fixed assets to promote economic development in the form of long-term fixed rate financing for fixed assets on reasonable terms. Under this program, the SBA authorizes CDCs (Certified Development Companies) to provide financing to small businesses with the help of third-party lenders (typically banks). The maximum loan amount is generally $5 million; however, certain eligible energy-efficient or manufacturing projects may qualify for more than one 504 loan up to $5.5 million each.

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality.  As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster.

It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. The Portland District Office serves Oregon and southwest Washington with its office located in Portland.