As you may be aware, the Small Business Administration (SBA) has indicated that Monday, August 10 is the first day financial institutions can begin accepting applications for loan forgiveness in the SBA Paycheck Protection Program.
We understand you may be ready to begin this process. However, we wanted you to be aware that First Horizon is not yet ready to begin accepting applications for forgiveness under the program. We are awaiting further clarification from the SBA on several key issues that will allow us to better serve you.
As we await this guidance, we are working hard to finalize our forgiveness application process, so we may provide you with the high level of service you expect from us. We appreciate your patience, and we will notify you as soon as we are able to begin processing applications.
In the meantime, as you prepare for the forgiveness process, visit firsthorizon.com/forgive and the SBA website to find specific details about eligibility for forgiveness and documentation requirements.
Has the SBA made any changes to PPP rules that I need to keep in mind?
Please visit the SBA website for the most up-to-date information.
How long do I have to apply for loan forgiveness?
Be aware: The Small Business Administration and the Department of Treasury continue to provide additional guidance concerning the Paycheck Protection Program. Thus, First Horizon makes no representation that information contained herein is up-to-date or complete. Before submitting a request for loan forgiveness, borrowers may wish to visit the SBA, U.S. Treasury Assistance for Small Business, and U.S. Treasury FAQs websites for the latest information and guidance related to the Paycheck Protection Program.
* As of 8/9/20.
How we’ve supported customers with the Paycheck Protection Program (PPP)
for small businesses totaling $1.9B.
went to women- and minority-owned businesses as well as businesses in low- to moderate-income tracts.
across our communities.