Tennessee — PPP Loan Data

Tennessee ranked among the states receiving PPP assistance during the COVID-19 pandemic. In total, the SBA approved 229,734 loans totaling $13.37B to businesses and organizations across the state. The average loan size was $58,193.

Of all approved loans, 212,206 — or 92.4% — received SBA forgiveness totaling $12.90B. Forgiveness means the borrower was not required to repay that portion, having met the program's requirements for maintaining payroll and using funds for qualified expenses such as rent, utilities, and mortgage interest.

Among the largest recipients in Tennessee were CAREHERE MANAGEMENT, PLLC ($10,000,000), JONES CONTRACTORS, INC. ($10,000,000), and EASTPORT HOLDINGS LLC ($10,000,000).

Borrowers in Tennessee reported retaining 1,557,503 jobs through the program, though job counts are self-reported and were not independently verified at the time of application. The state's businesses spanned a wide range of industries, from construction and hospitality to professional services and health care.

The most active industry in Tennessee by loan count was Personal Care Services with 19,797 loans totaling $339.1M. This was followed by Services to Buildings and Dwellings (9,269 loans).

The most active lender in Tennessee was FIRST HORIZON BANK, which originated 13,886 loans worth $1.48B. The top 10 lenders collectively handled a significant portion of the state's total loan volume, reflecting the role of large national banks as primary conduits for PPP funds.

Loans under $150,000 — which make up the majority of loan count — have borrower names withheld under FOIA Exemption 6. Only the approximately 0.0% of loans at or above that threshold have named recipients publicly disclosed.