Whidbey Island Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Whidbey Island Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 811111 | General Automotive Repair | 5 | $959K | $192K | 4.1% |
| 621210 | Offices of Dentists | 4 | $1.1M | $283K | 3.3% |
| 423220 | Home Furnishing Merchant Wholesalers | 3 | $400K | $133K | 2.5% |
| 721110 | Hotels (except Casino Hotels) and Motels | 2 | $670K | $335K | 1.7% |
| 541940 | Veterinary Services | 2 | $420K | $210K | 1.7% |
| 722410 | Drinking Places (Alcoholic Beverages) | 1 | $113K | $113K | 0.8% |
| 332111 | Iron and Steel Forging | 1 | $100K | $100K | 0.8% |
| 114111 | Finfish Fishing | 1 | $614K | $614K | 0.8% |
| 441110 | New Car Dealers | 1 | $513K | $513K | 0.8% |
| 624120 | Services for the Elderly and Persons with Disabilities | 1 | $150K | $150K | 0.8% |
Geographic Distribution
SBA lending activity for Whidbey Island Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Washington (WA) | 119 | $25.4M | 98.3% |
| California (CA) | 1 | $292K | 0.8% |
| Virginia (VA) | 1 | $219K | 0.8% |
Why Choose Whidbey Island Bank?
Based on SBA 7(a) lending track record from 1991-2010
- ✓Proven Track Record: 121 SBA loans approved, totaling $25.9M in financing
- ✓Industry Expertise: Specialized focus on General Automotive Repair, Offices of Dentists, Home Furnishing Merchant Wholesalers
- ✓Competitive Terms: Average interest rate of 5.50% with flexible term lengths averaging 142 months
- ✓Loan Range: Loan sizes from $18K to $900K, with an average of $214K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in WA, CA, VA
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 Whidbey Island Bank SBA lending
What types of businesses does Whidbey Island Bank typically finance?
Whidbey Island Bank specializes in SBA 7(a) lending to specific industries including general automotive repair, offices of dentists, home furnishing merchant wholesalers, hotels (except casino hotels) and motels. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Whidbey Island Bank's typical SBA loan terms?
Whidbey Island Bank's SBA 7(a) loans typically feature an average interest rate of 5.50% and average term length of 142 months (approximately 12 years). Loan sizes range from $18K to $900K, with an average loan size of $214K.
Do I need a business valuation for a Whidbey Island Bank SBA loan?
Yes, Whidbey Island 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 Whidbey Island Bank compare to other SBA lenders?
Whidbey Island Bank has originated 121 SBA loans totaling $25.9M since 1991. 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 Whidbey Island Bank lend in?
Whidbey Island Bank provides SBA 7(a) financing with particularly strong presence in WA, CA, VA. 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?
Certified valuations are often required for SBA loans over $250,000.
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