Northrim Bank Is Alaska’s Leading PPP Lender
Northrim Bank’s participation in the Paycheck Protection Program (PPP) assisted customers and the community during a very challenging time.
The bank was one of the first financial institutions in Alaska to offer PPP loans to non-customers as well as existing customers. Employees throughout the bank worked to create streamlined processes that leveraged existing technology and allowed the process to be handled in-house by Northrim employees. More than two-thirds of the bank’s employees worked on some aspect of the project.
As of March 31, Northrim has produced more than 5,000 PPP loans. This total of $580 million accounts for approximately 30 percent of all PPP loans made in Alaska.
There was a great need in the community, and the ability to work hard and meet the needs of customers and the community is part of Northrim’s core values. The growth seen at Northrim during the PPP process was due to the skill, experience, dedication, and hard work of all its employees.
“At Northrim, we are proud to be Alaskan and support our state, whether that be through employing hundreds of Alaskans, delivering customized solutions to grow small businesses that power our great state, or sharing information to help inform decisions throughout Alaska,” says Joe Schierhorn, Chairman, president, and CEO. “I am proud of the work being done by the employees at Northrim. As a community bank, we continue to be there for our neighbors during a time of great need and to provide a significant positive impact for so many people.”
In This Issue
The 2021 Best of Alaska Business Awards
Welcome to the 2021 Best of Alaska Business awards! We ask our readers to give us their input on the best businesses that Alaska has to offer, ranging from flower boutiques to accounting firms. Throughout March, readers voted in record numbers, yet another indication after a trying year of how Alaskans take extra effort to support local businesses.