Financial Institution Update

Please contact your financial institution to discuss solutions for commercial and/or home mortgage loans and remedies. In a recent poll, we are told that virtually all lending institutions are willing to work with individual customers to develop custom repayment solutions. Strategies have included:

  • Loan Forbearance
  • Interest-Only Payments
  • Rate Restructuring
  • Waiving Late Fees
  • Skip-a-Pay
  • Bridge Loans
  • Pausing Credit Reporting
  • Unsecured Lines of Credit with No Origination Fee

Again, not all institutions offer every remedy, so please reach out to your lender directly.

For businesses interested in the Paycheck Protection Program described in an earlier update, we continue to reach out to financial institutions to identify eligible lenders.  To date, we have confirmed:

  • 1st Security Bank
  • Olympia Federal Savings
  • Washington Business Bank
  • US Bank