“[This] news is a key indicator that the PPP is working for all small businesses across our Nation,” says SBA Administrator Jovita Carranza.
This year, the bank no only continued its traditional contributions but also saw the need to help those who were impacted by the COVID-19 pandemic.
This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.
EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds. Every eligible small business and nonprofit are encouraged to apply to get the resources they need.
The Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year.
Northrim Bank opened in 1990 with $8 million in capital and 21 employees; today the bank has more than $2.1 billion in assets and more than 325 employees.