Coronavirus Loan Relief & Aid

Main

Paycheck Protection Program

July 30
Loan Forgiveness Portal
The SBA is providing a dedicated online portal for PPP loan forgiveness applicants. 
Northrim will not be using the SBA portal. Northrim PPP loan forgiveness applicants will need to use our dedicated online portal and will need to use a unique online access link provided to them via communication from Northrim. Any borrowers who have not received their unique link to Northrim's portal who are ready to apply for forgiveness may email us at PPPforgiveness@nrim.com to have one of our forgiveness team members send a unique link.   

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.

June 17
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 pppforgiveness@nrim.com.

May 4
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.

May 3
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.

PPP Loan Forgiveness

Please see our PPP Loan Forgiveness page for loan forgiveness information and applications.

Contact us

Please reach out to your lender or contact us at 907-562-0062 or 1-800-478-2265.

Help for small businesses

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.

 

 
 

Resources

Use of PPP Funds FAQ

Use of PPP Funds FAQ

This handout gives PPP Loan recipients some guidance on the use of PPP funds.

Learn More  

SBA PPP Information

SBA PPP Information

See the Small Business Administration PPP website for details about First Draw and Second Draw loans.

Learn More  

PPP Rules and Regulations

PPP Rules and Regulations

Read more about the PPP Rules and Regulations posted in the Federal Register.

Learn More