SBA Paycheck Protection Program Update

Spokane, Washington

Northwest FCS is actively seeking information from the U.S Treasury about the Small Business Association’s (SBA) Paycheck Protection Program (PPP) which is scheduled to launch April 3. Although the Farm Credit System has been named in the CARES Act as a potential SBA lending resource, Northwest FCS has not recently operated as an SBA lender, and we are not originating PPP loans at this time. We are in the process of activating a referral-based relationship with a credit provider who specializes in high-volume processing of SBA guaranteed loans. Please check back next week for updates and visit the U.S. Treasury website for additional information about the PPP. We recognize time is of the essence and it may be prudent to contact your depository financial institution.