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Business

Business Lending

Our Lending Philosophy

Northrim is an Alaska community bank with a Customer First Service approach. Our mission is to be Alaska’s most trusted financial institution. We are committed to adding value for our customers and communities.

The business lending team at Northrim Bank has experience and advice you can count on. In addition to their knowledge of the Alaska economy, our loan officers are equipped with local industry insight, solid business connections, and the ability to present creative financing options. We are engaged in your business – taking an innovative approach to your financial needs and objectives. We believe business is personal, so give us a call.

Meet Our Team


Market Expertise

In today’s economy, every business is unique. From insurance to commercial fisheries, tourism to health care, your finance needs are complex and constantly evolving. If you want financial solutions that are more customized than traditional off-the-shelf offerings Northrim Bank is well positioned to help meet the needs of your business. We have proven experience across a broad range of industries. Our expertise and engagement in your industry means we understand how to help you grow and manage your business. We offer flexible terms and out-of-the-box, nontraditional financing – and all decisions are made locally.

Our areas of expertise include:

  • Resource Industry, to include oil and gas, mining, fisheries and tourism
  • Alaska Native Corporations and their subsidiaries
  • Healthcare, to include dental, medical, veterinary and chiropractic
    We know the market and we know the business; put our expertise to work for you.
    Contact us today! 

Meet Our Team


Northrim Business Loans

Commercial and Small Business Loans

A solid approach to short and long-term loans for managing your cash cycle, purchasing equipment, quickly converting receivables to cash, company and stock acquisition, transitions from renter to owner-occupied real estate, or expanding your business. Our team is engaged with customers to deliver expert advice, as well as finding financial solutions, risk assessment and cash management.

Commercial Real Estate Loans

Market-driven financing for purchases, refinancing, tenant improvements, or new construction of commercial real estate such as office, warehouse, or retail space. Our dynamic team of experts has a proven record of processing and expediting Commercial Real Estate loans throughout the state. We have expertise in loan participations with Alaska Industrial Development and Export Authority (AIDEA), Small Business Administration (SBA) loans and Alaska Housing Finance Corporation’s (AHFC) multi-family loan program.

Residential Construction Loans

Handcrafted and specifically designed for contractors licensed to build 1-4 family residences in Alaska. Robust, sustainable, market-driven, and aimed to satisfy Alaska’s builders. We know the residential construction industry and how to build Alaska.

Contact us to schedule a business planning session with your trusted advisor.

Meet Our Team


Specialized Lending Programs + Government Guaranteed Loan Programs

Alaska Housing Finance Corporation (AHFC)

We participate with AHFC to provide financing for multi-family housing, which consists of buildings with at least five units and designed principally for residential use. Individuals, partnerships, joint-ventures, and for-profit or non-profit corporations are eligible to apply.

Loan proceeds can be used to acquire, refinance, moderately rehabilitate in conjunction with the acquisition or refinance of the property, and extract equity in conjunction with a refinance.

Contact us for more information or to apply for an AHFC loan.

Alaska Industrial Development and Export Authority (AIDEA)

We participate with AIDEA to provide long-term financing to Alaska businesses for new or existing projects, or for the refinancing of existing loans. AIDEA’s mission is to encourage economic growth and diversification in Alaska. The loan program is focused on creating new jobs and retaining existing jobs in Alaska communities.

Proceeds can be used for the purchase or refinance of commercial real estate and/or equipment. That could include a wide variety of commercial facilities ranging from office buildings, warehouses and retail establishments, to hotels, commercial vessels, and manufacturing facilities.

Contact us for more information or to apply for an AIDEA loan.

Small Business Administration (SBA) Loans

As a small business owner, you play a vital role in Alaska’s economy. That’s why Northrim Bank partners with the Small Business Administration to provide small businesses with the financing they need to start, acquire, grow or bolster their business. The SBA loan program can help qualified businesses obtain financing even when their collateral may not meet conventional lending standards.

SBA loans can be used for many purposes - to start or acquire a business, buy land and equipment, renovate, refinance, or acquire inventory or working capital.

Contact us for more information or to apply for an SBA loan.

We support the Alaska Small Business Development Center (SBDC)

At Northrim Bank, we help small businesses achieve more. That is why we support the Alaska Small Business Development Center. The Alaska SBDC provides free one-on-one business counseling, low cost workshops, a business resource library, and much more. The SBDC has seven locations throughout Alaska. Just like us - they’ve been helping Alaskan businesses begin, prosper and grow for over twenty years.

Ready to work with the Alaska SBDC? Click here to get started.

Meet Our Team


Forms & Applications

Business Loan Application

Business Financial Statement

Personal Financial Statement

 

The interest rate on your loan can either be fixed or variable, depending on the loan type and situation. In addition to interest, you will usually be charged one or more fees. The most common is a loan origination fee, which is frequently based upon the amount of the loan. There may also be miscellaneous fees such as appraisal fees (when property is being purchased or used as collateral), credit report fees, filing fees, and any other fees that we are charged as part of your loan package preparation.

 

Member FDIC Equal Housing Lender

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