First Horizon is pleased to announce that we are now accepting applications for PPP forgiveness of first draw loans. At this time, we are not accepting forgiveness applications for forgiveness of 2021 first or second draw loans.
PRO TIP BEFORE YOU APPLY: A common issue at the beginning of the application process is incomplete documentation. Before you apply for forgiveness, review the Forgiveness Borrower’s Checklist. It will help you understand requirements based on which application your business used and how the PPP funds were spent. Incomplete or missing documentation will cause your application to be delayed and extend the time required to complete the forgiveness of your PPP loan.
If you are ready to apply for forgiveness, contact your banker who can send you a formal invitation to apply.
A business must submit a disclosure form in connection with its forgiveness application if:
|Date you applied for forgiveness||Date disclosure form is due if controlling interest condition applies|
|You applied for forgiveness after December 27, 2020, and your business meets the controlling interest criteria above.||You must complete and submit a disclosure form within 30 days from when you eSigned your forgiveness application.|
|You have not yet applied for forgiveness and your business meets the controlling interest criteria above.||You must complete and submit a disclosure form within 30 days from when you eSign your forgiveness application.|
If you have not yet applied for forgiveness, you will receive an email at a later date with details.
Please contact your banker if you have questions about this or other requirements of the PPP. Thank you for your trust and your business.