Covid-19 Update April 15, 2020
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Kimco Helps Smaller Tenants In A Big Way
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As many of you know, Kimco is one of North America’s largest publicly traded owners and operators of open-air shopping centers and a leader in sustainable real estate practices.
They've recently announced their Tenant Assistance program (TAP), in which they're providing assistance for their tenants to find and apply for federal and state loans. Loans meant to aid smaller businesses in surviving the disruption caused by the coronavirus pandemic.
As part of their corporate responsibility and sustainability program, Kimco educates its tenants on the advantages of GreenEarth Cleaning, and several years ago chose to require that any tenant performing on site dry cleaning at its shopping centers use GreenEarth. Kimco’s decision helped to ensure the safety of its tenants, neighbors and shoppers.
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We're proud to be associated with a forward thinking business, assisting small business people, as we work through and prepare to come out of the current restrictions in social interaction.
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Thank you to the handful of Affiliates who contacted us this week in regard to the update in limitations with the Economic Injury Disaster Loan (EIDL). Unfortunately there is in fact a limitation on the EIDL allowing $1,000 per employee to be distributed, with the total loan amount capping out at $10,000.
Although, we've been in contact with the SBA numerous times over the last 2 weeks, this was never brought to our attention. In fact, speaking with an SBA representative this morning, they assured us it was in the FAQ portion of the site.
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However, upon investigation they apologized for the error and confirmed, as of 10 AM CT today it was nowhere on the website.
As disappointing as this is for some, we wanted to make sure the information you have is accurate and up to date. So know, as the EIDL is distributed, businesses will be allowed $1,000 per employee, with the total loan amount capping out at $10,000.
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Tracking SBA Loan Affiliate Approval
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Last week we received over 150 responses to our poll with 22 answering
YES to having received approval from their bank on either the EIDL or PPP SBA loans.
We also started hearing form several Affiliates who have received the funds in their accounts. We're happy to see we're starting to not only be approved, but are receiving the funds. Though this may have felt like a bumpy road to get here, it appears to be coming to fruition.
If you answered
NO last week and your status has changed, or if you have not answered the question, please let us know.
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Have you received loan approval and/or direct funds for either EIDL or PPP from your bank?
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Don't hesitate to reach out. We're here for you!
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Have you missed anything?
Please see these past messages regarding Coronavirus
and what GreenEarth is doing to help.
Covid-19 Updates
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