KKR Awards Grants to 80 Small Businesses and Nonprofits as Part of COVID-19 Relief Effort

Rhea-AI Summary

KKR has launched the first round of grants from its $50 million Relief Fund to support small businesses and nonprofits impacted by COVID-19. The KKR Small Business Builders program awarded $10,000 each to 55 small business owners, with over 50% being minority-owned and 61% women-owned. Additionally, over $3 million was granted to 25 nonprofits globally addressing COVID-related challenges. The initiative aims to help businesses sustain operations and foster growth during these turbulent times. Applications for future rounds will open on January 4, 2021.

Positive

• KKR allocated $10,000 grants to 55 small businesses, supporting their operations and future growth.
• Over 50% of recipients are minority-owned businesses, promoting diversity.
• KKR awarded over $3 million to 25 nonprofits addressing COVID-19 challenges.

Negative

• None.

NEW YORK--(BUSINESS WIRE)--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.

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
Nick Anderer	Jessie Lipkowitz
Anton's | New York, NY	Polarity | Ann Arbor, MI
Gary Carter	Charlotte Guyton
Sitpinyo Muay Thai & Fitness | Hong Kong	Bard & Baker | Troy, NY
Justin Gurland and Zac Clark	Dennis Williams
Release Recovery | Yorktown Heights, NY	W.Heir's | Winter Springs, FL
Lisle Richards	Eric Cruz
The Village Den | New York, NY	Progressive Health & Performance | Murrieta, CA
Trishala Bhansali	Jaime Adams
Lekha | New Orleans, LA	Poshy Paws | Peoria, AZ
Daymara Baker	Zoe Schuler
Rockin' Baker Incorporated | Fayetteville, AR	ZMD | Madison, WI
Hossein Akbari	Jonathan Byun
The Discovery Years | San Jose, CA	Playcenter | Lakewood, CA
Beth Plante	Debbie Hall
Charleston Power Yoga | Charleston, SC	Century Travel | Austin, TX
Warren Norgaard	Jim O'Connor
Milkweed Arts | Phoenix, AZ	Homestead Inn | Wolf Point, MT
Teri Van Goethem	Laura Oldaker
DC Born & Bread | Washington, D.C.	Academy for Caregiving Excellence | Tucson, AZ
Francine Zodda	Nicole Phillips
A Child's Place | McHenry, IL	Inner Me | Houston, TX
Thomas C. Trotman	Mona Ghattas
TNT Construction Training | Denver, CO	Duran Central Pharmacy | Albuquerque, NM
Michael A. Robinson	Mary Williams
Dallas Costume Shoppe | Dallas, TX	Urgent & Primary Care Of Clarksdale | Clarksdale, MS
Monica Wong	Kyle Black
Little Green Cyclo | South San Francisco, CA	RollerCade | Detroit, MI
Athanasios Hatzinas	Patrick Lai
Yetter's Diner | Augusta, NJ	Game Theory Restaurant + Bar | Fort Worth, TX
Kareem Badr	Sandra Stroehmann
The Hideout Theatre | Austin, TX	Elixir Mind Body Massage | Denver, CO
Tyrone Foster	Deborah Carlin
Precision Landscape Services | Portland, OR	Debbie's Dance Studio | Williamson, WV
Janie Deegan	Christian Davis
Janie's Life-Changing Baked Goods | New York, NY	Supply Locale | Chicago, IL
Lexi Beach	Tom Rummel
The Astoria Bookshop | New York, NY	MrCleanSD | San Diego, CA
Anna Peters	Sheila Rhodes
Art Coop | Urbana, IL	Small Batch Kitchen Cafe and Market | Lansdale, PA
Sherille D. Barber	Cristina Atencio
Barber Therapy & Associates | Rock Hill, SC	Isabel Blackwell | Portland, OR
Brenda Bueno	Sarah Ribner
Little Daydreamers Learning Center 2 | New York, NY	PiperWai | New York, NY
Alina Ackenbom	Evonya Easley
Camp Friendship | Palmyra, VA	Love E | Atlanta, GA
Bridget Manzanares	Kristi K May
Flagship Real Estate Group | Encinitas, CA	Legend Acres | Surprise, AZ
Melissa Anelli	Moiz Bohra
Mischief Management | New York, NY	Nova Home Care | Farmington Hills, MI
Lane Velayo	Alda Escobar
Synergos Association Management | Indianapolis, IN	Madre Luna | Corona, CA
Cate Phillips	Sian DeLuca
Capstone Calling | West Bend, WI	SensationAll Kids Gym | Concord, CA
Jimmie Richard
Richards Family Group | Willowick, OH

KKR Grants Round 1 Recipients
COMMUNITIES Support for food security, safe housing, public health, and crisis relief
CareMessage	Martha's Table
USA	USA
Children's Rights	Meals on Wheels of San Francisco
USA	USA
Deutsche Franziskanerprovinz KdöR	North Texas Food Bank
Germany	USA
Headstrong Counselling	Single Homeless Project (SHP)
United Kingdom	United Kingdom
Hour Children	The Bowery Mission
USA	USA
La Casa de las Madres	Women's Aid Ireland
USA	Ireland
Little Essentials
USA
OPPORTUNITIES Support for innovative pathways of workforce recovery and development
Defy Ventures	The HOPE Program
USA	USA
Eight Million Stories, Inc.	Year Up, Inc.
USA	USA
Clubhouse International
USA
HEROES Support for teachers, first responders, essential workers and front line medical professionals
826 Valencia	Small Steps Nurturing Center
USA	USA
N.Y. Police and Fire Widows' & Children's Benefit Fund, Inc.	Southern Area Hospice Services
USA	United Kingdom
Save the Children	TalkingPoints
USA	USA

About KKR

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