Kimco re-launches program to help tenants tap into $248B of new PPP assistance
Kimco Realty, an owner-operator of 400-plus neighborhood and mixed-use centers, has re-deployed the Tenant Assistant Program it introduced in the spring to assist its small-business tenants in applying for the second round of Paycheck Protection Program funds approved by Congress.
The company has retained two companies that its tenants can use free of charge to get their shares of the $248 billion set aside for assistance in the new legislation: Blue Vine and Asset Enhancement Solutions.
BlueVine, a provider of small business banking solutions and an official direct non-bank PPP lender, has created an online application for tenants that expedites and automates the application process
Asset Enhancement Solutions, a financial advisory firm that helped more than 800 small businesses access over $100 million in PPP funding last year, helps tenants evaluate their options and eligibility in order to expertly submit their application materials.
“Our TAP program helped tenants access approximately $20 million in relief funding earlier this year,” said Kimco CEO Conor Flynn. “We’ve taken the lessons learned from that experience and redesigned a program we think will eliminate many of the hurdles that small business owners faced in accessing PPP loans the first time around.”