KKR today announced it has awarded the first round of grants in two of the cornerstone programs of the KKR Relief Fund (the "Fund") focused on supporting small business owners and nonprofits. The $50 million Fund was created by KKR and its employees earlier this year to support those impacted by the COVID-19 pandemic and its resulting economic dislocation.
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In the first round of the KKR Small Business Builders (SBB) program, KKR has awarded $10,000 each to 55 small business owners from a diverse range of backgrounds across gender, race, ethnicity, business industry, size and geography. The grants will provide financial assistance, hands-on support from KKR employees and resources from KKR’s partner organizations to help the small businesses to maintain day-to-day operations and jobs while also supporting their future growth.
The first round of SBB recipients are located in the U.S. and Asia, with 24 states across the U.S. represented. Over 50% of the recipients are minority-owned businesses, over 61% are owned by women and 22% are owned by veterans or their immediate family members. All of the businesses have between 5 and 50 employees and 75% reported less than $1 million in annual revenue.
"Small businesses are the lifeblood of our communities and across the U.S. alone, hundreds of thousands of businesses have been forced to close temporarily, and the data show that of those businesses, 60% are closed forever,"1 said Henry Kravis and George Roberts, Co-Chief Executive Officers and Co-Founders of KKR. "At a time when the challenges facing communities are tremendous, these grants aim to support small business owners and high-impact nonprofits to enable them, and ultimately the greater community, to meet this moment of immense disruption."
"All businesses start small and desire to grow. KKR's Small Business Builders initiative is partnering with Hello Alice to provide small business owners grants, online resources and a thriving online community of peers," said Elizabeth Gore, Co-Founder and President of Hello Alice. "Small businesses are the heart of our country, and we are proud to work with KKR to ensure their growth during these trying times."
In this first round of the KKR Grants initiative, which is focused on identifying and supporting nonprofits whose work supports priorities related to Opportunities, Communities, and Heroes, KKR awarded over $3 million to 25 nonprofit organizations around the world that are playing critical roles in addressing the challenges resulting from the COVID-19 crisis. Grant recipients included both international nonprofits and locally focused organizations in the U.S., U.K., Ireland, and Germany.
"COVID-19 has created unfathomable physical, economic and social disruption for people and communities around the world and the non-profit sector will continue to play a vital role in the recovery. We look forward to supporting our partners in the days and months ahead," said Ali Hartman, KKR’s Global Head of Citizenship.
SBB and KKR Grants are available to organizations around the world with recipients selected in rounds on an ongoing basis.
Small businesses around the world can learn more and apply for SBB grants at kkr.helloalice.com.
The application for nonprofits is available at www.kkr.com/grants. The next round opens January 4, 2021.
KKR’s Relief Fund is helping address challenges facing our shared communities through four key pillars: supporting portfolio company employees; engaging our employees as leaders and change-makers; assisting small businesses; and providing strategic grants and partnerships. Read a personal story about notifying grant recipients here.
About KKR Small Business Builders
KKR Small Business Builders is a grants-based program created to support small business owners who are struggling to navigate the challenges of the pandemic. KKR has joined forces with small business experts at Hello Alice and GEN Global to identify diverse and dynamic small business owners in need of assistance. Through SBB, KKR is awarding $10,000 grants to small business owners who will also receive support from KKR employees and the Hello Alice platform to help them better sustain their operations, maintain or create jobs and manage or pivot their business model.
About KKR Grants
KKR Grants is a global effort focused on identifying and supporting the most innovative and effective nonprofits whose missions are aligned with priority areas, including delivering immediate aid to vulnerable populations impacted by the pandemic, providing innovative pathways of workforce recovery and development, and supporting our heroes including teachers, first responders, essential workers and front-line medical professionals. KKR is supporting these organizations with financial grants and strategic support.
KKR Small Business Builders Round 1 Recipients
Anton's | New York, NY
Polarity | Ann Arbor, MI
Sitpinyo Muay Thai & Fitness | Hong Kong
Bard & Baker | Troy, NY
Justin Gurland and Zac Clark
Release Recovery | Yorktown Heights, NY
W.Heir's | Winter Springs, FL
The Village Den | New York, NY
Progressive Health & Performance | Murrieta, CA
Lekha | New Orleans, LA
Poshy Paws | Peoria, AZ
Rockin' Baker Incorporated | Fayetteville, AR
ZMD | Madison, WI
The Discovery Years | San Jose, CA
Playcenter | Lakewood, CA
Charleston Power Yoga | Charleston, SC
Century Travel | Austin, TX
Milkweed Arts | Phoenix, AZ
Homestead Inn | Wolf Point, MT
Teri Van Goethem
DC Born & Bread | Washington, D.C.
Academy for Caregiving Excellence | Tucson, AZ
A Child's Place | McHenry, IL
Inner Me | Houston, TX
Thomas C. Trotman
TNT Construction Training | Denver, CO
Duran Central Pharmacy | Albuquerque, NM
Michael A. Robinson
Dallas Costume Shoppe | Dallas, TX
Urgent & Primary Care Of Clarksdale | Clarksdale, MS
Little Green Cyclo | South San Francisco, CA
RollerCade | Detroit, MI
Yetter's Diner | Augusta, NJ
Game Theory Restaurant + Bar | Fort Worth, TX
The Hideout Theatre | Austin, TX
Elixir Mind Body Massage | Denver, CO
Precision Landscape Services | Portland, OR
Debbie's Dance Studio | Williamson, WV
Janie's Life-Changing Baked Goods | New York, NY
Supply Locale | Chicago, IL
The Astoria Bookshop | New York, NY
MrCleanSD | San Diego, CA
Art Coop | Urbana, IL
Small Batch Kitchen Cafe and Market | Lansdale, PA
Sherille D. Barber
Barber Therapy & Associates | Rock Hill, SC
Isabel Blackwell | Portland, OR
Little Daydreamers Learning Center 2 | New York, NY
PiperWai | New York, NY
Camp Friendship | Palmyra, VA
Love E | Atlanta, GA
Kristi K May
Flagship Real Estate Group | Encinitas, CA
Legend Acres | Surprise, AZ
Mischief Management | New York, NY
Nova Home Care | Farmington Hills, MI
Synergos Association Management | Indianapolis, IN
Madre Luna | Corona, CA
Capstone Calling | West Bend, WI
SensationAll Kids Gym | Concord, CA
Richards Family Group | Willowick, OH
KKR Grants Round 1 Recipients
Meals on Wheels of San Francisco
Deutsche Franziskanerprovinz KdöR
North Texas Food Bank
Single Homeless Project (SHP)
The Bowery Mission
La Casa de las Madres
Women's Aid Ireland
The HOPE Program
Eight Million Stories, Inc.
Year Up, Inc.
Small Steps Nurturing Center
N.Y. Police and Fire Widows' & Children's Benefit Fund, Inc.
Southern Area Hospice Services
Save the Children
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About Hello Alice
Hello Alice is a free, multichannel platform that helps businesses launch and grow. With a community of more than 250,000 business owners in all 50 states and across the globe, Hello Alice is building the largest network of owners in the country while tracking data and trends to increase the success rate for entrepreneurs. Our partners include enterprise business services, government agencies, and institutions looking to serve small- and medium business owners to ensure increased revenues and promote scale. Founded by Carolyn Rodz and Elizabeth Gore, we believe in business for all by providing access to all owners, including women, people of color, veterans, and everyone with an entrepreneurial spirit. To learn more, visit www.helloalice.com, as well as Twitter, LinkedIn, Instagram, and Facebook.
1 Bialik, C., & Gole, D. (2020, September). Yelp: Local Economic Impact Report (Rep.). Retrieved https://www.yelpeconomicaverage.com/business-closures-update-sep-2020.html
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Cara Major or Miles Radcliffe-Trenner