WASHINGTON · NAICS 713930
Washington marina and boat storage projects run on Puget Sound, the San Juan cruising grounds, and the freshwater systems, with covered moorage culture defining the Northwest profile. Studies translate slip mix, wet and dry storage, fuel and service revenue, and seasonal demand into projections, with covered and indoor storage carrying the off-season model.
FEASIBILITY TRIGGER
Marinas and boat storage are special-purpose under SOP 50 10 8, so a third-party feasibility study is normally required with an industry-experienced going-concern appraiser and elevated equity applies.
Between FY2010 and FY2026, SBA lenders approved and disbursed 9 7(a) and 504 loans for marina and boat storage projects in Washington, totaling $5.6 million in approved financing at an average of $618,000 per loan. Washington ranks #16 of 38 states tracked for marina and boat storage SBA lending volume and accounts for 1.4% of national marina and boat storage SBA dollar volume. 88.9% of these loans were made under the 7(a) program, the remainder under 504. 0 loans have been approved since FY2024.
| Disbursed loans (FY2010–FY2026) | 9 |
| Approved volume | $5.6 million |
| Average loan size | $618,000 |
| 7(a) share | 88.9% |
| Approvals since FY2024 | 0 |
| State rank by loan count | #16 of 38 |
The state-level seasoned cohort in this segment is below our publication threshold of 30 loans, so no state rate is shown. Nationally, seasoned marina and boat storage loans (approvals FY2010–FY2021) show an adverse-resolution rate of 3.0%, against 7.3% across all industries.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
An adverse-resolution rate of 3.0%, close to the national marina and boat storage benchmark of 3.0%, puts Washington deals in this class on ordinary SBA credit footing. Across 9 loans averaging $618,000, the underwriting question is deal-specific: a rigorous third-party feasibility study is where documented demand and stressed coverage decide the credit outcome.
Every Washington marinas and boat storage project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Washington projects most often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, decisive in a Puget Sound market where land costs run high. SBA 7(a) covers acquisitions, working capital, and equipment, and from July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Puget Sound carries more than 100 marinas, anchored by the Port of Seattle's Shilshole Bay Marina with over 1,400 monthly and liveaboard moorage customers, one of the largest boating communities on the West Coast, with the San Juan cruising grounds and covered moorage culture giving Washington one of the structurally deepest marina markets in the country.
For a national view of this asset class, see our marina and boat storage SBA feasibility overview, and read our related analysis in the marina and boat storage lending research on our blog.
Compare neighboring markets: Virginia, West Virginia, Texas.
Public SBA and CDC program records, cited as program evidence
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