First Tennessee invests $5 million in Small Business Jobs Opportunity Fund
August 09 2016 - 3:15PM
Joins Pathway Lending to help create jobs
and expand small businesses
First Tennessee has invested $5 million in Pathway Lending’s
Tennessee Small Business Jobs Opportunity Fund, which helps
businesses access capital to create jobs and expand operations. The
Fund is designed to provide financial services to small businesses
unable to access traditional capital.
“Our goal is to provide financial empowerment tools and support
to small business owners who are the backbone of our economy,” said
Bryan Jordan, chairman and CEO of First Tennessee’s parent company,
First Horizon National Corp. (NYSE:FHN). “When our small businesses
are healthy and strong, they fuel job growth and strengthen our
communities.”
Pathway Lending is an “Endorsed Product” of the Tennessee
Bankers Association for its member banks as a Community Development
Financial Institution providing Community Reinvestment Act
qualified loans and investments.
“Every day we hear about the challenges of accessing the
financing necessary to succeed. This investment by First Tennessee
will provide additional capital that will be leveraged to increase
access to credit for small businesses throughout Tennessee,” said
Clint Gwin, President of Pathway Lending. “This funding will help
ensure that more entrepreneurs have access to the resources they
need to expand and create jobs in their local communities.”
About First TennesseeFirst Tennessee Bank is
the largest bank headquartered in Tennessee, with the number one
deposit market share in Chattanooga, Knoxville, Memphis and the
Tri-Cities and a top-five deposit market share in Nashville. First
Tennessee was founded during the Civil War in 1864 and has the 14th
oldest national bank charter in the country and one of the highest
customer retention rates of any bank in the country. First
Tennessee and FTN Financial are part of First Horizon National
Corp. (NYSE:FHN), which has 4,300 employees. First Horizon has been
recognized as one of the nation's best employers by Forbes, Working
Mother and American Banker magazines. More information is available
at www.FirstTennessee.com.
About Pathway Lending Based in Nashville,
Pathway Lending is a certified Community Development Financial
Institution (CDFI) that provides loans and educational services to
businesses throughout Tennessee. Since 1999, Pathway Lending has
made more than 800 loans totaling $150 million to over 500
companies. Pathway Lending is headquartered in Nashville. For more
information, visit www.pathwaylending.org.
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Contact:
James Dowd (901) 523-4305 JEDowd@FirstTennessee.com
Kim Cherry (901) 523-4380 KCherry@FirstHorizon.com
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