Lender · SBA 7(a) record
WaFd Bank
WA · lends in 9 states · 196 SBA loans since 2010, 180 in the last five years.
How fast they approve. WaFd Bank leans on SBA Express (98% of its recent 7(a) loans) more than full Preferred Lender (PLP) authority (2%). Express is fast but caps at $500,000, so a larger loan may route through the SBA's slower general review — worth asking about up front. Why approval speed comes down to the lender.
What stands out about WaFd Bank
vs every other SBA lenderWaFd Bank lives at the small end. Its median loan is just $30k, well under the $347k typical of SBA lenders — one of the banks genuinely willing to write small.
WaFd Bank is franchise-heavy. 75% of its loans are franchise loans, well above the norm — a good sign if that is your deal.
Its median markup is prime + 4.28%, above the prime + 1.99% norm — worth a hard look at the rate you are quoted.
This read is built from 180 funded 7(a) loans over the last five fiscal years.
Will they talk to you?
loan sizes fundedThe spread of loan sizes tells you where this lender is comfortable. Ask for something far outside it and expect friction.
Do they fund businesses like yours?
last 5 yearsA lender who already knows your industry asks better questions and closes faster. One who doesn't will treat your file as an education.
Not enough seasoned history to judge
Too few of this lender's loans are old enough to say anything useful.
What rate people got
median markup over primeThe median borrower here paid prime + 4.28%. Compare that against what you have been quoted — the markup is the negotiable part, and most borrowers never try.
Their loans, year by year
cumulative % of dollars charged off| Approved | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Yr 7 | Yr 8 | Yr 9 | Yr 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | · | · | · | · | · | · | · | · | · | · |
| 2026 | · | · | · | · | · | · | · | · | · | · |
Each row is one year's lending. Read down a column to compare years at the same age — that is the only fair comparison, because losses take three to five years to appear and a fast-growing lender always looks clean on a raw average.
What this page cannot tell you
Federal records show what was approved, not how long it took, how the bank communicated, or whether your loan officer returned calls. Ask any lender directly: are you a preferred lender, how many deals like mine did you close last year, and who underwrites it.
Check your eligibility first → Decode what they say to you →
Lenders worth comparing against this one
Picked for writing loans of a similar size in similar places.
Common questions
What is the smallest SBA loan WaFd Bank will make?
Its practical minimum — the 5th percentile of what it has actually funded — is about $10,000, and the typical (median) WaFd Bank loan is $30,000. If your loan is well below its practical minimum, it is unlikely to be interested however strong your file.
What interest rate do WaFd Bank SBA borrowers get?
On variable-rate loans, recent WaFd Bank borrowers paid a median of prime + 4.28%. The markup over prime is the negotiable part of any SBA quote. Check a rate you have been quoted.
What states does WaFd Bank lend in?
Most of WaFd Bank's recent SBA lending is concentrated in Washington, Oregon, Idaho, among 9 states in total. Compare lenders by state.