On December 29, 2020, Northfield Bank, a wholly-owned subsidiary of Northfield Bancorp, Inc. (NASDAQ: NFBK), announced that it will again participate in the Paycheck Protection Program (PPP) to provide a vital source of capital to its customers and communities. Northfield also announced that it has dedicated resources to assist small businesses with ten or less employees and businesses located in low-to-moderate income areas in applying for the next round of PPP funding.
Steven M. Klein, President and CEO of Northfield Bank stated, “It is critical that our local small businesses have access to this important source of funding, and we at Northfield are committed to doing everything we can to help them navigate the application process.”
He continued, “I’m proud that the Northfield team, including the efforts of Victory State Bank acquired by Northfield in July of this year (2020), has originated nearly $150 million in PPP loans to over 1,400 businesses, with over 10,000 employees since the program’s inception.”
Northfield Bank will utilize its experienced processing teams and proven technology solutions to assist applicants throughout the process. In addition, Northfield has dedicated processing teams for small businesses with ten or less employees and businesses in low-to-moderate income areas. Business owners in either of these two groups must be located in Northfield’s market area, but do not need to be an existing Northfield Bank customer.
Northfield Bank, founded in 1887, is a $5.6 billion financial institution which operates 43 full-service banking offices in Hunterdon, Middlesex, Mercer and Union County, New Jersey and in Staten Island and Brooklyn, New York.
Northfield will begin accepting PPP loan applications after the release of regulations and guidance by the Small Business Administration. Current information about this program can be found at www.eNorthfield.com/pppservice.
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