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 to 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,” according to 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.”