Important information about the SBA PPP
Program update as of 4/26/2020
As a result of the recent approval of additional funds for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), we are now accepting new applications. If you have already applied, there is no need to reapply.

During the pause on applications, we received feedback that was full of both optimism and frustration – something echoed by many small business customers of banks across the country. The flood of demand has simply overwhelmed the banking industry and the SBA. Working night and day over the last few weeks, our bank was able to process thousands of requests and over a billion dollars in relief money. But, like other financial institutions, we simply were not able to address all the need. As we move into the second round of funding, here’s what you need to know:

Order of priority

With so much interest and demand for the program, but a limited amount of funds available from the SBA Paycheck Protection Program, our first priority will be to process the applications already in progress, which fall into one of three categories. Here is information for each:

  • If you have been assigned an official loan number through the SBA’s ETran system, your funds are secured and will be available within approximately 10 days.

  • If your application is complete but was not submitted to the SBA prior to the most recent depletion of funds, we are submitting the application on your behalf as soon as new applications are being accepted by the SBA.

  • If you have been communicating with your banker to complete the application, please continue to collect documents and confirm information with him or her. Keep in mind, some common hurdles that often hold up applications include:
    • Not providing proper payroll documentation
    • Not using the recommended formula to accurately calculate the requested loan amount
    • Not providing your banker with full contact info, including email address and cell number, to facilitate the loan closing process

New applicants 

For those who haven’t yet started an application, we encourage you to do so immediately, by contacting your banker today. If you don’t have a banker, submit our appointment form (below) to start a connection. If you are not a First Horizon customer, please understand that the process will likely be longer based on legal requirements for establishing a new banking relationship. You’ll need to review and prepare the following forms:

For expediency, you may want to consider reaching out to your existing bank if they are an SBA-preferred lender.

For all PPP applicants

It is important to understand that neither a discussion nor application is the same as an approved loan.

  • There is no guarantee that any or all qualified applicant(s) will receive a loan because demand for the program is so high.

  • Only completed applications can be submitted for processing. Please make sure all your required documents are available, correct and ready for submission.

Whether you’ve received a loan under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) or you’re in the process of applying, we want to remind you that eligibility to apply is the borrower’s responsibility to determine and certify. To assist you in this process the U.S. Government has issued guidance in relation to this requirement, which you can read about here.

Program Overview

Review details of the Paycheck Protection Program and the type of financial relief the program offers to approved small business applicants.

Program Overview


Existing customer?
Existing customer?