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At Seattle Credit Union, we know that saying ‘yes’ to loans for local businesses means saying yes to our community! That's why we offer Small Business Administration (SBA) loans for small businesses and back them with financial opportunities and resources they need to begin their path to prosperity. 

UPDATE: If your SBA PPP Loan was $150k or below, you are eligible to apply directly through SBA's Direct Forgiveness Portal. For more information on how to apply, please visit the Direct Forgiveness Program User Guide

The SBA offers live customer service for Borrowers at 877.552.2692.

Apply Now

 

 

How does a small business loan work?

 

As their name suggests, SBA loans are guaranteed by the U.S. Small Business Administration. However, the SBA doesn't actually lend money. Instead, they work with a network of lenders who provide loans to small businesses, such as Seattle Credit Union.

The SBA offsets some of the risk for lenders, making it easier for small businesses to access capital. Along with providing much-needed capital, some SBA loans also come with counseling and other types of support to help you sustain your business.

Learn More


SBA Disaster LOANS



With the uncertainty surrounding COVID-19, many small business owners are confronted with unexpected expenses and interrupted business hours. Seattle Credit Union is here for you.

If you're worried about your business, a loan from the U.S. Small Business Administration (SBA) could help you manage costs until conditions improve.
 

The SBA is currently offering low-interest disaster loans for small businesses suffering substantial economic losses as a result of the pandemic. These loans can be used to pay fixed debts, and cover payroll costs, accounts payable, and other bills. Nonprofits and individuals may also be eligible. If you qualify for a disaster relief loan, you can apply online, by mail, or in person.

For more information, visit sba.gov/disaster

 

FAQ

 

How do I get an SBA loan for my business?

You could be eligible for an SBA loan, even outside of emergencies, if you own a for-profit business that operates in the U.S. You'll need to have invested your own time or money into the business and exhausted other financing options.

SBA loans range from $500 to $5.5 million and can be used for a variety of business expenses. Loans can be used to cover working capital (revolving credit, loans, seasonal financing, etc.) and fixed assets (equipment, furniture, real estate, etc.).

Seattle Credit Union will carefully review the terms with you for specific eligibility requirements and restrictions.

Does my business qualify as "small" for an SBA loan?

The Small Business Administration defines "small" based on revenue and number of employees. The exact numbers to qualify as a small business vary by industry. You can use the SBA's size standards tool to see if you qualify.

For more information about additional loan opportunities with Seattle Credit Union, please visit seattlecu.com/loans

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