Coastal Community Bank Commits $5 Million to Solomon Hess SBA Loan Fund

Coastal Community Bank announced a $5 million investment in the Solomon Hess SBA Loan Fund to support small businesses in Snohomish and King Counties, according to GlobeNewswire. The Everett, Washington-based bank said the investment advances its Federal Reserve-approved Community Reinvestment Act Strategic Plan.

Coastal's $5 Million SBA Loan Fund Investment

The investment supports the SBA 7(a) loan program, which helps small businesses secure financing to grow and create jobs. By purchasing federally guaranteed portions of SBA loans, Coastal helps increase the availability of capital to entrepreneurs and small business owners.

"Small businesses are the backbone of our local economy," said Cinnamon Chambers, SVP and CRA Officer at Coastal Community Bank. "When entrepreneurs have access to capital, they create jobs, expand services, and help build vibrant local communities."

Bill Einstein, Founder and CFO of the Solomon Hess SBA Loan Fund, said the fund's primary mission is to support job creation and retention in low- and moderate-income communities by investing in the guaranteed portion of SBA 7(a) loans. "We're proud to partner with Coastal Community Bank to support local small businesses in King and Snohomish Counties," Einstein said.

Chris Adams, Executive Chair at Coastal Community Bank, said economic opportunity begins with access. He said supporting the SBA 7(a) program helps provide financing solutions that enable businesses to overcome barriers and pursue growth opportunities.

Coastal's Banking-as-a-Service Moves

Coastal Community Bank is a $4 billion U.S. bank ranked among the top 20 in the country, according to akta.pro company records. The same records show Coastal Financial Corporation reported $429.6 million in total revenue and $47.0 million in net income for fiscal year 2025.

In April 2026, Coastal entered a non-binding term sheet to acquire assets and deposits from Evolve Bank & Trust's BaaS programs, subject to regulatory approvals. That month, Aven Financial Inc. launched a Bitcoin-backed Visa credit card issued by Coastal Community Bank, enabling credit lines up to $1 million at rates starting at 7.99% APR with terms up to 10 years.

Earlier Coastal Community Bank Commitments

On October 9, 2026, Coastal Community Bank announced its participation in Koz Development's PNW Attainable Workforce Housing Fund, providing equity financing for workforce housing in Washington and Oregon, Stock Titan reported. On October 7, 2026, the bank awarded $375,000 in multiyear grants to three nonprofits serving Snohomish and King counties, with LISC and VOA receiving $150,000 each and HCESC receiving $75,000, according to Stock Titan.

Coastal's CRA Plan Timeline

The bank said the investment is expected to support economic development activities that benefit communities throughout Coastal's assessment area while strengthening opportunities for business growth and workforce development.