Northwest Bank earns U.S. SBA Impact Award
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.
“Northwest Bank played a major role in saving a lot of local small businesses and non-profits during the COVID-19 pandemic,” said Jayne Armstrong, district director, U.S. Small Business Administration. “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.
“Without a doubt, this year has had its share of challenges for many small business owners,” said Joe Conover, president of Northwest Bank. “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.”