Northrim Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Northrim Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 236220 | Commercial and Institutional Building Construction | 64 | $56.7M | $886K | 7.5% |
| 722511 | Full-Service Restaurants | 48 | $24.7M | $514K | 5.7% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 40 | $47.7M | $1.2M | 4.7% |
| 722513 | Limited-Service Restaurants | 32 | $16.8M | $525K | 3.8% |
| 238990 | All Other Specialty Trade Contractors | 32 | $41.5M | $1.3M | 3.8% |
| 811310 | Commercial and Industrial Machinery and Equipment (except Automotive a | 24 | $11.2M | $468K | 2.8% |
| 561730 | Landscaping Services | 24 | $3.1M | $129K | 2.8% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 24 | $2.7M | $111K | 2.8% |
| 561520 | Tour Operators | 24 | $8.0M | $333K | 2.8% |
| 445210 | Meat Markets | 24 | $5.6M | $233K | 2.8% |
Geographic Distribution
SBA lending activity for Northrim Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alaska (AK) | 832 | $458.7M | 98.1% |
| Washington (WA) | 8 | $40.0M | 0.9% |
| Oregon (OR) | 8 | $200K | 0.9% |
Why Choose Northrim Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 848 SBA loans approved, totaling $498.9M in financing
- ✓Industry Expertise: Specialized focus on Commercial and Institutional Building Construction, Full-Service Restaurants, Lessors of Nonresidential Buildings (except Miniwarehouses)
- ✓Competitive Terms: Average interest rate of 6.68% with flexible term lengths averaging 92 months
- ✓Loan Range: Loan sizes from $10K to $5.0M, with an average of $588K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in AK, OR, WA
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Northrim Bank SBA lending
What types of businesses does Northrim Bank typically finance?
Northrim Bank specializes in SBA 7(a) lending to specific industries including commercial and institutional building construction, full-service restaurants, lessors of nonresidential buildings (except miniwarehouses), limited-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Northrim Bank's typical SBA loan terms?
Northrim Bank's SBA 7(a) loans typically feature an average interest rate of 6.68% and average term length of 92 months (approximately 8 years). Loan sizes range from $10K to $5.0M, with an average loan size of $588K.
Do I need a business valuation for a Northrim Bank SBA loan?
Yes, Northrim Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Northrim Bank compare to other SBA lenders?
Northrim Bank has originated 848 SBA loans totaling $498.9M since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Northrim Bank lend in?
Northrim Bank provides SBA 7(a) financing with particularly strong presence in AK, OR, WA. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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