On May 4, 2021, the Small Business Administration announced that Paycheck Protection Program funding has been exhausted and that the PPP application portal will stop accepting applications for loans from most lenders. This means Fourth Capital is no longer assisting with new PPP loans; however, MDIs (Minority Depository Institutions) and CDFIs (Community Development Financial Institutions) are still able to process loans if you are still in need of funding.
Throughout the process in 2020 and 2021, Fourth Capital provided over 315 loans totaling in excess of $45 million that went to true small businesses in middle Tennessee. We appreciate our team for the efforts that went into making this a priority and serving our clients and community.
We are now shifting our full efforts to the forgiveness process. If you have not applied for forgiveness (particularly for first draw loans), we would encourage you to submit your application. Not sure where to start? Learn more.
If you have questions, please reach out and our team will be happy to provide further guidance.