First Horizon National Corp. (NYSE:FHN) has announced that First Horizon Bank has helped more than 13,000 small businesses secure loans totaling approximately $2.1 billion through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). These PPP loans will help sustain nearly 300,000 jobs at businesses in communities across its network. In addition, approximately 22% of the loans secured went to women-owned, minority-owned and low- to moderate-income tract designated businesses.
“Small businesses are the lifeblood of our economy,” said Bryan Jordan, Chairman and CEO of First Horizon. “I am proud of the way our bankers served our customers during these challenging times and of the plans we have underway to restore our communities.”
In South Florida, First Horizon regional president Jeff Jackson has seen a large number of small business owners who have found ease in the process and become new customers. As of Monday, First Horizon Bank has provided help with loans for 1,627 small businesses totaling more than $200 million.
“I’d like to encourage small business owners who need help to cover payroll and additional expenses to proceed now,” explains Jackson. “The PPP loan process is more seamless and our bankers are available to be a resource for non-customers also.”
First Horizon is continuing to accept PPP applications, subject to available funding. Additional information can be found on the company’s website or reaching a banker at one of the branches.