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The Nextdoor Kind Foundation Partners with the NAACP and Hello Alice to Launch Keep It Local Business Fund
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Nextdoor Kind Foundation has launched the Keep It Local Business Fund, providing $5,000 microgrants to entrepreneurs of color to support local communities. This initiative, developed in collaboration with the NAACP and Hello Alice, aims to address the funding gap faced by Black entrepreneurs. Applications are open from November 14 to December 16, with grant recipients gaining access to resources for business growth, including pro bono advertising on the Nextdoor platform.
Positive
Launch of the Keep It Local Business Fund to support entrepreneurs of color.
Partnership with NAACP and Hello Alice to enhance grant distribution.
Microgrants aim to strengthen local economies and communities.
Negative
None.
The neighborhood grant program will offer microgrants for small businesses
SAN FRANCISCO--(BUSINESS WIRE)--
Today, the Nextdoor Kind Foundation announced its first phase of commitment to providing local grants to help neighbors strengthen their communities with the launch of the Keep It Local Business Fund. In partnership with the NAACP, the largest and most pre-eminent civil rights organization in the nation, and Hello Alice, the free platform helping over one million small businesses launch and grow, the grant program will award $5,000 microgrants to entrepreneurs of color, enabling them to help strengthen and support communities at a local level.
The Nextdoor Kind Foundation was created with a mission to fund microgrants to individuals, nonprofits, and small businesses, enabling them to solve challenges and organize in their own neighborhoods and communities. The Nextdoor Kind Foundation is funded by donations from Nextdoor CEO Sarah Friar; Nextdoor founders, Nirav Tolia, Sarah Leary, Prakash Janakiraman; and Nextdoor Investor and Board Member, Bill Gurley.
Microgrants for Small Businesses
Small businesses are heralded as the backbone of their local communities, helping drive local economies, ingenuity, and innovation. Despite the proven benefits of small businesses, entrepreneurs of color are less likely to receive capital than other entrepreneurs. The Nextdoor Kind Foundation seeks to help local leaders continue to thrive and create value for their communities.
Beginning November 14 through December 16, eligible small businesses can apply for a $5,000 grant through the Keep It Local Business Fund. In addition to the grant, recipients will receive resources and tools to grow their business including pro bono advertising on the Nextdoor (NYSE: KIND) platform and access to personalized training.
“We believe good ideas start at the grassroots level. People know their own neighborhoods better than anyone else and, with a little help, are well-positioned to be a force for positive change in communities,” said Shireen Santosham, Executive Director, Nextdoor Kind Foundation. “We are proud to partner with NAACP and Hello Alice as both believe change starts in the community. Our hope is that these microgrants light a spark within recipients to drive change in their neighborhood and inspire similar efforts in communities around the world - ultimately creating a movement of kindness rising.”
"The NAACP is proud to partner with the Nextdoor Kind Foundation and Hello Alice to provide grants to small Black-owned businesses. Far too often, Black entrepreneurs are overlooked in loan and grant distribution processes and in return undergo a deficit when working to grow their businesses and enrich their communities. This partnership will work to break those barriers and create opportunities for business owners who would otherwise face immense hardship with financially sustaining their companies,” said Derrick Johnson, CEO and President of the NAACP.
“One of the greatest challenges facing New Majority entrepreneurs and small business owners is accessing capital to properly grow their businesses,” said Elizabeth Gore, Co-founder and President of Hello Alice. “These small businesses have tremendous potential to contribute to their communities and boost the overall economy if given the resources to scale successfully. We’re thrilled to partner with the Nextdoor Kind Foundation to provide capital and meaningful resources to those who need it most.”
Microgrants for Individuals to Launch in 2023
The Nextdoor Kind Foundation believes that neighbors are the best source of ideas to improve their own communities. In 2023, the Nextdoor Kind Foundation will launch microgrants to individuals seeking to positively impact their neighborhoods.
Founded in 1909 in response to the ongoing violence against Black people around the country, the NAACP (National Association for the Advancement of Colored People) is the largest and most pre-eminent civil rights organization in the nation. We have over 2,200 units and branches across the nation, along with well over 2M activists. Our mission is to secure the political, educational, social, and economic equality of rights in order to eliminate race-based discrimination and ensure the health and well-being of all persons.
About Hello Alice
Founded by Carolyn Rodz and Elizabeth Gore, Hello Alice is a free platform serving more than one million small business owners across the United States. Committed to equitable access to capital for women, people of color, members of the LGBTQ+ community, veterans, and entrepreneurs with disabilities, Hello Alice offers funding, education, tools, and curated opportunities. Working with enterprise business services, ecosystem partners, affiliates, and government agencies, Hello Alice provides its growing community with everything they need to grow their businesses. To learn more, visit www.helloalice.com, as well as Twitter, LinkedIn, Instagram, and Facebook.
The Keep It Local Business Fund is a grant program by the Nextdoor Kind Foundation that offers $5,000 microgrants to entrepreneurs of color to help strengthen local communities.
Who can apply for the Nextdoor Kind Foundation's microgrants?
Small businesses owned by entrepreneurs of color can apply for the microgrants provided through the Nextdoor Kind Foundation.
When can businesses apply for the microgrants from the Nextdoor Kind Foundation?
Eligible small businesses can apply for the microgrants from November 14 through December 16.
What support do grant recipients receive from the Keep It Local Business Fund?
Grant recipients will receive the $5,000 microgrant, pro bono advertising on the Nextdoor platform, and access to personalized training resources.
What is the goal of the Nextdoor Kind Foundation's initiative?
The initiative aims to address the funding gap for Black entrepreneurs and to empower them to positively impact their communities through local business growth.
