WASHINGTON · NAICS NAICS 6211, 6212
Washington medical and dental practice projects run across acquisitions, partner buy-ins, startups, and relocations across the Puget Sound metros and the Spokane base. Studies translate patient volume, payer mix, fee schedules, and ramp into projections, and reconcile goodwill-driven going-concern appraisal triggers against the lender's coverage tests.
FEASIBILITY TRIGGER
Acquisitions routinely cross the $250,000 goodwill threshold, triggering an independent going-concern appraisal; startups and relocations are projection-based.
SBA 7(a) and 504 lenders funded 696 medical and dental practice projects across Washington between FY2010 and FY2026, moving $456.7 million in approved capital at an average ticket of $656,000. That volume places Washington at #12 of 38 states measured for medical and dental practice SBA activity, or 2.6% of national medical and dental practice dollars. The 7(a) program carried 77.2% of the loan count, with 504 taking the balance, and 64 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 696 |
| Approved volume | $456.7 million |
| Average loan size | $656,000 |
| 7(a) share | 77.2% |
| Approvals since FY2024 | 64 |
| State rank by loan count | #12 of 38 |
Among the 578 seasoned loans in this segment (approvals FY2010–FY2021), 3.6% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for medical and dental practice is 3.7%, against 7.3% across all industries. That is broadly in line with the national benchmark for this asset class.
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 3.6%, close to the national medical and dental practice benchmark of 3.7%, puts Washington deals in this class on ordinary SBA credit footing. Across 696 loans averaging $656,000, 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 medical and dental practices 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 practice values run among the highest in the West, keeping most acquisitions above the appraisal threshold.
For a national view of this asset class, see our medical and dental practice SBA feasibility overview, and read our related analysis in the medical and dental practice lending research on our blog.
Compare neighboring markets: Virginia, West Virginia, Texas.
Public SBA and CDC program records, cited as program evidence
Seedcopa-documented SBA 504 of $1,524,000 within a $3,716,000 project with Penn Community Bank
Fiscal 2024 Seedcopa-documented financing, national program evidence
New Hope, Bucks County, Pennsylvania
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