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Small Business Administration (SBA) Paycheck Protection Program (PPP) for Northern Bank Customers

For more than 60 years, Northern Bank has been a trusted partner and source of strength for our communities and customers we serve. We have earned the trust and confidence of our clients by working diligently and collaboratively with them when they face both challenges and opportunities.

The coronavirus pandemic presents new and different challenges for all of us, but as always, we are here to help our customers overcome the obstacles that stand in the way of their goals and persevere through trying times.

Your team at Northern Bank has been working around the clock, to help clients secure PPP loans. As you can imagine, the demand for PPP loans has been extraordinary and we were able to fund more than 1,300 loans. The program has been challenging because the Small Business Administration (SBA) and U.S. Treasury continues to develop and refine the processes, and release or update guidance daily.

What you need to know about the Paycheck Protection Program

The Paycheck Protection Program (PPP), part of the new CARES stimulus package, is a federal loan program* aimed at helping small businesses who have been severely impacted by Coronavirus maintain their workforce.

The Treasury Department has up-to-date information about this program. We encourage customers to visit the small business section of the Treasury Department CARES website.

  • This is not a link to apply.
  • Do not send us any SBA or Treasury department forms.
  • Check back for updates.

We recommend that you consult with your attorneys and accountants if you need professional advice.

Important Reminders

  • Terms and conditions are subject to change.** Check back for updates.

Be aware and protect yourself from scams

Northern Bank will not ask for confidential information—such as your name, password, PIN or other account information—if we reach out to you. See the Federal Trade Commission’s advice.


Payroll Protection Program (PPP)



Employee Salaries

Mortgage Interest

Rent and Utilities

Interest on debt incurred before 2.15.20


2.5 times the business's average monthly payroll


1% fixed annual percentage rate


No payments for the first 6 months, and a total 2-year term


Up to 100% with approval

Economic Injury Disaster Loan (EIDL)



Fixed Debts

Accounts Payable

Other expenses that can't be paid because of the disaster's impact


Up to $2 million


3.75% annual percentage rate


Up to 30 years


Emergency grants available up to $10K

*All loans are subject to other requirements and availability of funds under the SBA program. Funds are limited.

**This information is accurate and updated as of 4.17.2020. Terms and conditions are subject to change.

Northern Bank | Member FDIC

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