WASHINGTON TRUST BANK
PPP Lender · 8,794 loans · $1.73B total · 28 states served
WASHINGTON TRUST BANK was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 8,794 PPP loans totaling $1.73B, representing approximately 0.08% of all loans nationwide.
WASHINGTON TRUST BANK served borrowers across 28 states. The largest concentration of activity was in Washington, where the lender originated 6,286 loans totaling $1.27B. Other states with significant activity included Idaho, Oregon, California.
The average loan size for this lender was $196,544. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.
Among the largest named borrowers that received loans through WASHINGTON TRUST BANK were: PARAMETRIX, INC. (WA) — $10,000,000; SELLEN CONSTRUCTION CO INC (WA) — $10,000,000; METRO WEST AMBULANCE SERVICE INC. (OR) — $9,275,100; and N. A. DEGERSTROM, INC (WA) — $8,934,200.
PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.
Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.
Activity by State
| State | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| Washington | 6,286 | $1.27B | 98.5% |
| Idaho | 1,970 | $256.7M | 99.0% |
| Oregon | 420 | $175.0M | 98.3% |
| California | 35 | $9.0M | 100.0% |
| Arizona | 18 | $3.2M | 94.4% |
| Texas | 13 | $1.4M | 100.0% |
| Colorado | 7 | $1.2M | 100.0% |
| Alaska | 5 | $1.1M | 100.0% |
| Utah | 4 | $59,000 | 100.0% |
| North Carolina | 4 | $202,000 | 100.0% |
| Wyoming | 3 | $28,500 | 100.0% |
| Nevada | 3 | $178,400 | 100.0% |
| Florida | 3 | $418,625 | 66.7% |
| South Carolina | 2 | $31,800 | 100.0% |
| New York | 2 | $84,800 | 100.0% |
| New Jersey | 2 | $4.2M | 100.0% |
| Montana | 2 | $34,700 | 100.0% |
| Kansas | 2 | $1.4M | 100.0% |
| Indiana | 2 | $33,200 | 50.0% |
| Illinois | 2 | $45,200 | 100.0% |
| Hawaii | 2 | $123,200 | 100.0% |
| Wisconsin | 1 | $20,800 | 100.0% |
| South Dakota | 1 | $7,500 | 100.0% |
| Nebraska | 1 | $28,700 | 0.0% |
| Missouri | 1 | $174,500 | 100.0% |
| Maryland | 1 | $28,300 | 100.0% |
| Louisiana | 1 | $1.9M | 100.0% |
| American Samoa | 1 | $41,600 | 100.0% |