Powering the Businesses that Power Alaska
We take pride in helping to improve economic vitality and quality of life in Alaska by:
- employing more than 450 Alaskans;
- growing to serve communities in expansive geographic areas;
- supporting Alaska’s future leaders with our internship and trainee programs, and by funding scholarships for University of Alaska system students; and
- providing financial support to nonprofit organizations throughout Alaska, focusing on those that help with community and economic development, strengthen low-income families and advance higher education. During 2024, Northrim contributed over $1.18 million to organizations throughout Alaska, a new high for philanthropic giving.
Northrim serves the unique needs of Alaskans and businesses of all sizes, and it is rewarding to see our impact across the state as we work to drive our state forward.
Contact Information
Alaska business leaders choose Northrim for our team of experts, innovative banking products and services and signature Superior Customer First Service. Contact us today to speak with a banking expert ready to help your business achieve more.
About Us
Northrim understands the challenges of starting and running a business in Alaska and goes the extra mile to meet you where you are — whether it is across the street or on a fishing boat in the Gulf of Alaska — to provide you with unique, customized solutions for your business.
The resources we dedicate to understanding the economy, and our commitment to sharing data through our sponsorship of statewide economic research and forecast reports and presentations at events, including our annual Community Summits, help Alaska businesses with strategic planning and decision-making.
Our commitment to supporting Alaska communities is just as important. Since 1990, we have made strategic investments and meaningful contributions to local economies, dedicating our time, talent and dollars to improving economic vitality and quality of life in Alaska.
Our subsidiary, Residential Mortgage, is a leader in the mortgage loan industry, assisting borrowers purchasing or refinancing homes throughout Alaska and in more than a dozen states in the lower 48.
Northrim Funding Services, our asset-based lending division in Bellevue, Washington, serves businesses in Alaska and the greater Pacific Northwest.
Offering flexible terms, customized financing and local decisions, our dynamic team of lending experts processes and expedites small business and C&I loans around the state. We are a lending partner of the Alaska Small Business Development Center’s State Small Business Credit Initiative program, allowing businesses to bridge the funding gap that often hinders the growth of promising ventures that may be socially or economically disadvantaged, and the Commercial Property Assessed Clean Energy & Resilience (C-PACER) program supporting energy efficiency and resilience upgrades for commercial properties.
We have invested in best-in-class automation tools to help businesses maximize cash flow and liquidity, improve efficiency and mitigate financial risks.
Enhanced, customizable products offered by our Treasury Management team, including:
- Commercial Purchase Card program
- Integrated Payables
- IntraFi® Cash Services
- Payment Processing
Our family of companies has strengthened our ability to provide enhanced financial services. In addition to Residential Mortgage and Northrim Funding Services offerings, Northrim Investment Services offers products through Elliott Cove Capital Management.
Northrim has long been committed to supporting affordable housing across the state. Over the past decade, we have financed more than 600 affordable housing units for families and seniors, and invested over $30 million as a tax credit equity partner. Our total investment of approximately $135 million represents a significant contribution to affordable housing within the state.
We work closely with nonprofit organizations statewide to support affordable, low-income and workforce housing initiatives. As the largest servicer of Alaska Housing Finance Corporation (AHFC) loans in the state, we are pleased to support AHFC’s mission to provide Alaskans with access to safe, quality, affordable housing.
Last year, we also launched a housing task force, bringing together employees from across the Bank to better understand the challenges faced by developers, consumers and housing organizations. This group is evaluating existing financing programs, exploring new solutions, advocating for policy changes and working to secure additional state and federal funding to incentivize workforce housing development. Affordable housing is a critical issue for the state’s economic health, and we are committed to being part of the solution.
Customer Testimonial
Rogan Parker,
Pathfinder Aviation CEO
“The Bank worked diligently with the SSBCI program to develop a creative financing package under unique circumstances,” said Parker. “Their dedication to local companies has truly helped position Pathfinder Aviation as a strong employer across the state of Alaska and around the globe.”
Call (907) 562-0062 today to speak with a banking expert ready to help your business achieve more.
