Does my company qualify for a warehouse line with First Horizon...
First Horizon is excited to explore the opportunity with prospective clients, on the possibility of adding a new warehouse line. If you your company meets our minimum requirements, then, a Relationship Manger can take you through a formal application process.
Minimum Warehouse Qualifications
- Tangible net worth of $500,000 in the company
- Minimum time in business is 3 years (some exceptions are available)
- Personal guaranty is required
- Audited financials (ability to obtain audited financials at the end of your fiscal year)
During our application process it will be your responsibility to provide First Horizon with financial statements of at least 2 years, resumes of key managers, guarantor’s personal financial statements,
guarantor’s tax returns of last 2 years to include most current extension if applicable, and a list of all owners with 5% or more ownerships in the company. Bank and brokerage statements will also be
requested to support the PFS for any guarantor on the application. The underwriting and approval process will include appropriate due diligence such as credit and reference checks, along with licenses
and public records search at both the corporate and guarantor levels. First Horizon will take all qualifying customers under consideration, but please disclose any unflattering information to our team
that could possibly show up during our due diligence. i.e., BK’s or pending litigations/ prior lawsuits.
If you were referred to First Horizon by a first-hand service provider, such as a major Investor AE, a MIS Rep, an industry CPA firm, or other industry consultant with whom you have been working
closely with please let us know. New accounts that come to us in this way have a more favorable position in our approval process. Please let us know your contacts details
so we can get in contact with them for a personal reference.
If you feel that your company does not meet our qualifications, but you would still like to talk with someone on our team, please contact us directly.
We will follow up shortly to answer any questions and to mutually explore whether there seems to be a fit between our business model and yours.
Thank you again for the opportunity to serve your warehouse needs.