Prepare to Apply

Applying for funding: What you need to know

On Tuesday, January 19, 2021, we will begin accepting applications for PPP loans. To get started with either your first or second PPP loan application, contact your banker.

What to expect:

  • Your banker will explain the process and provide an email with a link to the online loan application portal.
  • The portal is designed to streamline the loan application process. As you complete the application, let your banker know if you have any questions.
  • You can also schedule an appointment to speak to someone.

If you do not have a banker, contact one of our conveniently located banking centers. Find a location or schedule an appointment online. In-person appointments aren’t required at most locations, but recommended to ensure we can serve you in a timely and safe manner.

If you’re not quite ready to apply, here are a few steps to help you prepare:

  • If applying for a second loan, review your initial PPP loan application and be prepared to update or supplement where appropriate.
  • Gather tax and financial information for 2020 as this information may be necessary for some applicants.
  • Review your payroll information to determine which base period for calculating your loan amount makes the most sense to you.
  • Talk to your accounting or legal advisor about your particular circumstances.

If you are not a current First Horizon client seeking funding, 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 this form

If you are a new borrower, please refer to the checklist below which outlines documentation required to onboard with our institution:

Throughout the process, please remember:

  • Neither a discussion nor an application is the same as an approved loan.
  • Details are subject to change based on additional guidance from the SBA.

Applying for forgiveness: What you need to know

As we wait for additional guidance from the SBA regarding the changes to PPP forgiveness, we have paused efforts to prepare and submit all forgiveness applications to the SBA unless a client expresses a need to move ahead.

Please talk to your accountant and/or legal advisor to review expected changes. If you’d like to continue with your application, reach out to your banker. They will add you to a list to receive an email with details about the online forgiveness application process.

With additional guidance coming from the SBA regarding the forgiveness process, consider the following before you proceed with a forgiveness application:

  • Get trusted advice. Talk to an accountant or legal advisor about the changes made to the PPP to-date and any expected changes. Every situation is unique, and each borrower needs to figure out the best approach for its circumstances.
  • Make a choice about your application. Please understand that moving forward with your forgiveness application before the SBA has issued additional guidance may mean forgoing benefits that may be available.
  • If you need to proceed with your application before any pending changes take effect, reach out to your banker.
  • If your application is in process, you can “pause” the forgiveness process by not executing the DocuSign.
  • If you have already applied and your application is with the SBA for review, we may not be able to withdraw it.


*As of 1/19/21, details are subject to change based on additional guidance from the SBA.