First Tennessee Bank, a member of the First Horizon National Corp. (NYSE:FHN) family of companies, that also includes Capital Bank, announced a $500,000 investment to provide access to capital for start-ups and small businesses.
The company has partnered with Chattanooga-based BrightBridge, Inc. whose mission is to reduce barriers to business growth by customizing loan packages and advisory services. BrightBridge also increases employment opportunities and fosters the expansion of business and industry in Tennessee and surrounding states.
“BrightBridge aims to accelerate start-up and business growth,” said Bill Pollard, BrightBridge chief operating officer. “The $500,000 commitment from First Tennessee will open even more doors for start-up and small businesses in the region. First Tennessee understands and values the opportunities small business provides to our communities. Their investment allows us to do the work that will have long-term positive impacts in our community.”
First Tennessee’s investment is part of its Community Benefits Plan to broaden access to financial resources and strengthen economic development in communities in its footprint. “At First Tennessee Bank, we know access to capital can expand small businesses and drive innovation. Our partnership with BrightBridge helps entrepreneurs overcome some of the barriers of traditional financing,” said Jay Dale, First Tennessee Chattanooga market president.
The goals of the partnership include:
1. Closing the commercial lending gaps
2. Building strong partnerships with lenders and peer organizations
3. Fostering community understanding and engagement
4. Creating measureable impact
5. Supporting environmental sustainability
Small business owners interested in applying for funding can find additional information at: www.BrightBridgeInc.org.