Not So Hard Money and Bridge Loans in Washington
Washington is the 18th largest state, with an area of 71,362 square miles (184,827 km2), and the 13th most populous state, with more than 7.4 million people. Approximately 60 percent of Washington’s residents live in the Seattle metropolitan area, the center of transportation, business, and industry along Puget Sound, an inlet of the Pacific Ocean.
Washington is the second most populous state on the West Coast and in the Western United States, after California. Washington has a relatively strong economy, with a total gross state product of $569.449 billion in 2018, placing it 10th in the nation and growing by 5.7 percent per year—the fastest rate in the United States. The minimum wage in 2018 was $11.50 an hour, the second highest in the country.
Significant business within the state include the design and manufacture of aircraft (Boeing), automotive (Paccar), computer software development (Microsoft, Bungie, Amazon, Nintendo of America, Valve Corporation, ArenaNet), telecom (T-Mobile US), electronics, biotechnology, aluminum production, lumber and wood products (Weyerhaeuser), mining, beverages (Starbucks, Jones Soda), real estate (John L. Scott, Colliers International, Windermere Real Estate, Kidder Mathews), retail (Nordstrom, Eddie Bauer, Car Toys, Costco, R.E.I.), and tourism (Alaska Airlines, Expedia, Inc.).
A Fortune magazine survey of the top 20 Most Admired Companies in the US has four Washington-based companies: Amazon, Starbucks, Microsoft, and Costco. At over 80% the state has significant amounts of hydroelectric power generation. Also, significant amounts of trade with Asia pass through the ports of the Puget Sound, leading to a number 6 ranking of US ports (ranking combines twenty-foot equivalent units (TEUs) moved and infrastructure index).
We’re excited to be funding in Washington State and to be a part of its economic growth. Our Not So Hard Money® loans are available across the state of Washington.