NORTHWEST BANK RECEIVES U.S. SMALL BUSINESS ADMINISTRATION IMPACT AWARD
posted
on Tuesday, December 22, 2020
in
Community News
Northwest Bank is recognized for their economic contributions and efforts with helping small businesses through the Paycheck Protection Program (PPP). The U.S. Small Business Administration’s (SBA) Iowa District Office has awarded Northwest Bank with the Impact Award.
Jayne Armstrong, District Director, U.S. Small Business Administration, commented, “Northwest Bank played a major role in saving a lot of local small businesses and non-profits during the COVID-19 pandemic. But it is more than the borrowers. It is about our communities and the employees and families that rely on these small businesses and non-profits for their livelihoods. We are honored to recognize Northwest Bank for their hard work and commitment during these trying times.”
Northwest Bank is recognized for being the second largest producer of PPP loans in the state of Iowa. Over 1800 PPP loans were successfully processed, resulting in nearing $193 million dollars to assist small businesses retain staff and keep their businesses open.
Joe Conover, President of Northwest Bank commented, “Without a doubt, this year has had its share of challenges for many small business owners. Our relationship with the SBA gives us the ability to act quickly and provide the needed support for our customers. I am incredibly proud of our organization’s bankers and our investment in technology which gives us the power to serve so many small businesses within the communities we serve in Iowa and Nebraska.”
Northwest Bank is a $2.0 billion community bank that offers a full line of business, agriculture, mortgage, consumer deposit and lending services as well as wealth management services. Northwest Bank has offices located in Algona, Ames, Ankeny, Arnolds Park, Estherville, Fort Dodge, Humboldt, Le Mars, Milford, Sioux Center, Sioux City, Spencer, Spirit Lake, West Des Moines and Omaha and La Vista, NE.