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September 2026 Report: Inside the West’s Business-Purpose Lending Market
Private lenders account for nearly 30% of BPL loans in the West, where larger loan sizes, rising dollar share, and broad metro growth reveal a distinct private lending market.
By Forecasa Intelligence, ForecasaOctober 1, 20263 min read
The US Census Bureau defines the West region into two parts: Mountain (AZ, CO, ID, MT, NV, NM, UT, WY) and Pacific (AK, CA, HI, OR, WA). Across the West, lending to real-estate investors has become one of the most dynamic corners of the mortgage market. There are well over 100,000 business-purpose loans originating in the West each year. We define the BPL market as all originations where the borrower is a business entity, and private lenders' share of the West's BPL market has grown more than 35% since 2022. Within the West we show who is lending, where volume is growing, and where the emerging lenders are active. This is the third installment of Forecasa's Regional Spotlight series where we highlight a particular region's BPL lending market.
Conventional lenders originate about 41% of West BPL loans by count, with private lenders second at 29%. Dollars tell a different story: commercial lenders write barely 3% of loans but nearly 24% of volume, while private lenders' 29% of loans translates to under 12% of dollars.
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