First Horizon Processes More Than $175 Million In Applications For Paycheck Protection Program

Bankers Spend Over 10,000 Hours In Initial Round Of Applications

  • Friday, April 17, 2020

Chattanooga businesses working with First Horizon will garner approximately $175 million in funding from the SBA’s Payment Protection Program. With over 500+ applications processed and more awaiting the next round of funding, bankers from Chattanooga’s largest financial institution spent over 10,000 hours in 15 days for the first round of applications.

The First Horizon bankers are also aware of other small businesses who have expressed an interest in the next round of funds but have yet to apply. 

Market President Jay Dale noted that the bank is looking forward to the next round of funding that Congress is expected to authorize. “We are working as quickly as possible to have our next round of applications ready once the funds are accessible. We are hopeful that Congress will move quickly to assist our small businesses.”

Statewide, First Horizon has funded more than one-third of all PPP loan requests. The bank received 8,500 requests and currently has funded $1.6 billion to businesses across the state. 

“The funds made available through the PPP are a life-line to so many small businesses,” said Mr. Dale. “We will continue to do all we can to support our customers during this time. Great customer service is something we’ve provided for the last 156 years and COVID-19 and the recent tornadoes aren’t about to keep us from doing just that.” 


Business
New And Used Vehicle Sales Drop In June
  • 7/1/2025

New vehicle sales in Hamilton County dropped in June from May to 1,364, and used vehicle sales dropped to 4,308, according to figures from the County Clerk's office. That compares to 1,045 ... more

Blue & Co. Expands Presence With New Office In Chattanooga
  • 7/1/2025

Blue & Co., an accounting and advisory firm, announces the grand opening of its newest office in Chattanooga. "Our expansion into Tennessee reflects our firm’s dedication to building strong ... more

New Hamilton County Business Licenses
  • 6/30/2025

Here are the new business licenses from the County Clerk's office: ABLE SERVICES EDWARD W MEDLIN 1218 WOODSAGE DR SODDY DAISY TN 37379 ANDREW'S PROFESSIONAL WINDOW CLEANING ANDREW PRESS ... more