Coastal Community Bank Commits $5 Million to Support Small Business Growth and Economic Opportunity
Investment in SBA loan fund expands access to capital for local businesses and job creation
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EVERETT, Wash., Oct. 14, 2026 (GLOBE NEWSWIRE) — 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.”
“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.
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.
“Economic opportunity begins with access. By supporting the SBA 7(a) program, we are helping provide financing solutions that enable businesses to overcome barriers, pursue growth opportunities, and create positive economic impact throughout Snohomish and King Counties. Supporting small business success is one of the most meaningful investments we can make in the future of our communities,” said Chris Adams, Executive Chair at Coastal Community Bank.
About Coastal Financial
Coastal Financial Corporation (Nasdaq: CCB) (the “Company”), is an Everett, Washington based bank holding company whose wholly owned subsidiaries are Coastal Community Bank (“Bank”) and Arlington Olympic LLC. The $5.46 billion Bank provides service through 14 full-service branches in Snohomish, Island and King Counties, one loan production office in King County, the Internet and its mobile banking application. The Bank provides banking as a service to digital financial service providers, companies and brands that want to provide financial services to their customers through the Bank’s CCBX segment. To learn more about the Company visit www.coastalbank.com.
Contact
Chris D. Adams, Executive Chair of Coastal Financial Corporation, cadams@coastalbank.com
Eric Sprink, Chief Executive Officer, esprink@coastalbank.com
Joel G. Edwards, Chief Financial Officer, jedwards@coastalbank.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our management’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Any or all of the forward-looking statements in this press release may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this press release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to effectively evaluate and manage counterparty risk associated with CCBX partners and the risk that the conflicts in the Middle East and/or changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, may adversely impact our business, financial condition, and results of operations and those other risks and uncertainties discussed under “Risk Factors” in our Annual Report on Form 10-K for the most recent period filed and in any of our subsequent filings with the Securities and Exchange Commission.
If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law.
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