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  • Writer's pictureMAREJ

Kimco Realty’s TAP will help small businesses access PPP funding

JERICHO, NY — Kimco Realty Corp. announced that the company has once again deployed its Tenant Assistance Program (TAP) to assist small business tenants in applying for a share of the $284 billion in Paycheck Protection Program (PPP) funds recently approved under the latest federal COVID-19 relief bill.

Kimco has identified two forms of assistance to choose from for tenants interested in applying for PPP funds, both completely complimentary. First, BlueVine, a leading provider of small business banking solutions and an official direct non-bank PPP lender, created an online PPP application for tenants that uses advanced technology to expedite and automate the application process. The company reported that it delivered nearly $4.5 billion in PPP loans to 155,000 small businesses during the previous funding rounds, with some applicants receiving same-day funding, even as many banks were unable to keep pace with the large volume of applications. BlueVine will support Initial and Second Draw PPP loans for existing and new customers through their online dashboard.1

For those tenants seeking more personalized assistance, Asset Enhancement Solutions, LLC (AES), a financial advisory firm that helped more than 800 small businesses access over $100 million in PPP funding last year, also is available to support tenants in evaluating their options, their eligibility, understanding loan terms and assembling the required application materials. AES is an agent for a number of large banks and cn advise tenants on their options based on their individual business needs.

The AES team will provide detailed assistance to tenants throughout the application process and can also provide multilingual support for tenants speaking Mandarin, Spanish, Vietnamese and Portuguese.

“Many of Kimco’s small business tenants are still in desperate need of additional funding, and it continues to be our top priority to do what we can to help them survive,” said Conor Flynn, Kimco’s chief executive officer. “While our Tenant Assistance Program helped tenants access approximately $20 million in relief funding earlier this year, 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. It is our goal that every eligible tenant in need of funding is able to secure a loan.”


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