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Asset Based Lending
We will be incorporating the use of the PPP COVID Revenue Reduction score into our internal forgiveness approval process to streamline approval for forgiveness applications of $150,000 and less.
Second Draw Applications Now Being Accepted
We are now accepting Second Draw forgiveness applications if the loan has been fully utilized and at least eight weeks have passed since the loan was disbursed. However, at this time the SBA is prioritizing Round 1 forgiveness applications, so borrowers should expect delays by the SBA in reviewing their applications.
If you have used the funds on eligible expenses, at least eight weeks have passed since your loan was disbursed, and are ready to apply for loan forgiveness, please email firstname.lastname@example.org.
PPP Application Portal Closed
The Small Business Administration is no longer accepting PPP applications from banks such as Northrim. We have submitted all completed loan applications and are waiting for confirmation from the SBA regarding the approval status. Borrowers will receive an email confirmation if their loan is approved as the SBA is continuing to process submitted applications until June 30, 2021. We remain committed to supporting our borrowers through this process and will post any updates here as they become available.
Aid for Restaurants and Food Operations
Relief funding for restaurants and other food operations is available through the SBA Restaurant Revitalization Funding Program. This program helps businesses that serve patrons who assemble for the primary purpose of being served food or drink such as: restaurants, food trucks, catering, brewpubs and more. See the program page for details and to apply. Watch this video for additional information about eligibility and application instructions.
Please see our PPP Loan Forgiveness page for loan forgiveness information and applications.
Please reach out to your lender or contact us at 907-562-0062 or 1-800-478-2265.
Need help navigating the various COVID-19 relief programs for small businesses? The Alaska Small Business Development Center has weekly online briefings, workshops, trainings and several online resources to assist Alaska businesses. See this special ASBDC page for details.
This handout gives PPP Loan recipients some guidance on the use of PPP funds.
Learn More PDF
See the Small Business Administration PPP website for details about First Draw and Second Draw loans.
Learn More external link
Read more about the PPP Rules and Regulations posted in the Federal Register.
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Do you have an existing PPP loan with Northrim Bank?
Are you applying on behalf of an Alaska-based business?
Thank you for your interest. At this time Northrim is only accepting applications for businesses based in Alaska. Please contact your local financial institution to apply for this program.