Shopping center owner Kimco is trying to help its smaller tenants pay rent, stay in business

Kimco Realty has started piloting a tenant assistance program to help its tenants find and apply for federal and state loans to aid their businesses during the coronavirus pandemic. “We were nervous about time. We are not ones to wait for the government. We figured we had to act quickly,” Kimco CEO Conor Flynn said. A major shopping center owner in the U.S. has taken matters into its own hands to try to help small business owners get access to funds from the federal government and from states that can help them pay rent. Kimco Realty, which owns and operates roughly 400 strip centers typically anchored by grocery stores across the country, has started piloting a tenant assistance program, or TAP. Its goal is to help its tenants find and apply for federal and state loans. Those loans are meant to aid smaller businesses in surviving the disruption caused by the coronavirus pandemic. Currently, the TAP pilot is in California and Florida. Kimco said it plans to roll out the program to other states over the next few days. The launch follows a frenzied rush last Friday for small businesses to file for federal loans. Entrepreneurs are now nervously waiting on bank approvals. The government’s $350 billion loan program is aimed at assisting small businesses hurt by the measures that have been taken to stem the spread of COVID-19. But many have described the process as chaotic and confusing. And some are still seeking assistance. Click to read more at