Commencement Bank

This is a financial institution offering SBA loan programs, including the 7(a) loan, to help small businesses secure funding for growth and operational needs. You can find assistance with loan applications, guidance on eligibility, and support throughout the borrowing process.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins may be accommodated depending on availability. Calling ahead can help streamline your visit.

Commencement Bank operates Monday through Friday from 9:00 AM to 5:00 PM. Please confirm current hours before visiting.

There are no fees for simply visiting or consulting with the bank; however, loan processing and application fees may apply depending on your financing needs. These fees are disclosed upfront during the loan application process.

This bank primarily serves residents and businesses within the regional area, but eligibility for SBA loans is based on creditworthiness and business criteria rather than residency alone.

A minimum personal credit score of 620 is generally required to qualify for SBA loans, though higher scores may improve approval chances.

The underwriting process typically takes between 30 to 45 days, depending on the completeness of your application and the complexity of your loan request.

Most banks keep weekday business hours and are closed on weekends, and Commencement Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Commencement Bank to confirm current weekend availability before you go.

Commencement Bank is located in Washington — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Commencement Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Commencement Bank itself, which runs its own lending under its own ownership. If you work at Commencement Bank, you can claim this listing from this page to manage it.

The core details for Commencement Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Commencement Bank before applying. If you represent Commencement Bank, claim this listing to keep its information up to date.

You can reach Commencement Bank by phone at (253) 284-1800 or by email at hello@commencementbank.com. Confirm with the lender before relying on these details.

Based on its approved SBA loans, Commencement Bank most often finances businesses in restaurants & food service, construction & contractors, general retail, and manufacturing. This reflects Commencement Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Commencement Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Commencement Bank participates in SBA Express depends on its specific SBA lending authority. Contact Commencement Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Commencement Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Commencement Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Commencement Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Commencement Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Commencement Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Commencement Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Commencement Bank weighs this case by case under its own policy, so be upfront about your history and ask Commencement Bank how it evaluates prior bankruptcies.