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Coastal Community Bank Commits $5 Million to Support Small Business Growth and Economic Opportunity

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Coastal Community Bank Commits $5 Million to Support Small Business Growth and Economic Opportunity

Coastal Community Bank (the “Bank”, “Coastal”, “us”, “our”, “we”) announced a $5 million investment in the Solomon Hess SBA Loan Fund, reinforcing the Bank’s commitment to supporting small businesses, economic development, and job creation throughout Snohomish and King Counties. The investment advances Coastal’s Federal Reserve-approved Community Reinvestment Act (CRA) Strategic Plan and expands access to capital for businesses that may not qualify for traditional financing.

The investment supports the SBA 7(a) loan program, which helps small businesses secure financing needed to grow, create jobs, and contribute to local economic development. By purchasing federally guaranteed portions of SBA loans, Coastal helps increase the availability of capital to entrepreneurs and small business owners while supporting economic opportunity throughout the communities it serves.

“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. This investment allows us to support economic opportunity while fulfilling our commitment to making a measurable impact through our CRA Strategic Plan.”

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“The SBA Loan 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” – Bill Einstein, Founder and CFO.



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