The U.S. Small Business Administration (SBA) has announced plans to relocate its office in Seattle. This decision is part of a broader move to shift SBA offices in several cities, including Denver, Atlanta, Boston, New York, and Chicago. While the SBA has not specified the new location for the Seattle office or the timeline for the move, the agency has indicated that the change is part of a broader adjustment to its operations.
In addition to the office move, the SBA introduced a new requirement for loan applications. A “citizenship verification provision” will be included to ensure that businesses seeking SBA support are not owned, in whole or in part, by individuals who are not authorized to be in the country. The SBA has not clarified whether loans will still be available to noncitizens who hold permanent resident or green card status.
In 2024, the Seattle office approved significant loan amounts, including $117 million in 504 program loans for real estate projects and over $965 million in 7(a) program loans for working capital.
The SBA’s decision has sparked responses from local leaders. Rachel Smith, president and CEO of the Seattle Metropolitan Chamber of Commerce, expressed concern, stating that the move could hinder small business leaders in the region. A spokesperson for Seattle Mayor Bruce Harrell also voiced criticism, arguing that the change could negatively impact local businesses and communities.
The SBA maintains an additional office in Spokane, and its Portland office supports several counties in southwest Washington. The future of SBA services in the region will depend on the relocation and the new loan eligibility policies.
