March 17, 2020
As strong supporters of small businesses, Northwest Bank will continue to do everything we can to support our communities. We understand that many of our Small Business Administration (SBA) program customers have questions about their existing loans, as well as recently announced Disaster Relief loans.
Disaster Relief Loans
The $50 Billion in capital announced by President Trump to relieve small businesses impacted by COVID-19 will be administered directly through SBA.gov. Northwest Bank, and other financial institutions, are not currently able to process applications on behalf of our clients.
Existing SBA Loans with Northwest Bank
We understand that COVID-19 is having a fast, and in some cases dramatic impact on small business. Northwest Bank is a Preferred SBA lender and can, in some circumstances, grant borrowers temporary relief in the form of deferred payments to existing borrowers. Northwest Bank must follow the SOP 50 57 2 when we consider requests, and not all loans will qualify.
If you wish to speak with Northwest Bank about an existing SBA loan, or to request a payment deferment, please send your name and contact information to firstname.lastname@example.org.