KKR Supports 100 Small Businesses and Nonprofits in Latest Grants to Aid Global Economic Recovery

Rhea-AI Summary

KKR announced its latest KKR Relief Effort grants, awarding $10,000 each to 72 small business owners across 61 cities and committing over $4.7 million to 28 nonprofits globally. Since 2020, KKR has supported 231 small businesses and over $30 million to 110 nonprofits. With an additional $1.5 million pledge for 2022, KKR's total commitment to small businesses reaches $4 million. Notably, 69% of grant recipients are women-owned and 81% are minority-owned, with 74% stating the grant was vital for their business survival during the pandemic.

Positive

• KKR awarded $10,000 to 72 small business owners across 61 cities, benefitting diverse businesses.
• KKR committed over $4.7 million to 28 nonprofits globally, enhancing community support.
• Since 2020, KKR has provided over $30 million in funding to 110 nonprofits, showcasing a strong commitment.
• An additional $1.5 million commitment for 2022 increases total support for small businesses to $4 million.
• The grant program has been pivotal for 74% of recipients, indicating effectiveness in supporting businesses.

Negative

• None.

KKR today announced the recipients of the latest rounds of KKR Relief Effort grants awarded through two of the initiative’s cornerstone programs: KKR Small Business Builders (SBB) and KKR Grants. In the latest rounds, the KKR SBB program awarded $10,000 to 72 small business owners across 61 cities, 30 states and three countries. The KKR Grants program made commitments of more than $4.7 million to 28 nonprofits based in the US, UK, Singapore, Spain and Sweden.

Since launching these programs in response to the COVID-19 pandemic in the first half of 2020, KKR and its employees have supported 231 small businesses with direct support and grants of $10,000 each through the KKR SBB program. The KKR Grants initiative has provided more than $30 million in funding to 110 nonprofits whose missions align with supporting workforce recovery and development across communities and championing frontline heroes.

Given the continued challenges that face small business owners and communities around the world, KKR will continue to operate both the KKR SBB and KKR Grants programs into 2022. KKR has pledged an additional $1.5 million to support small businesses through its continued partnership with multichannel entrepreneurship platform Hello Alice and global partner GEN Global, bringing KKR’s total commitment to small businesses to $4 million.

“We continue to be inspired by the resilience and perseverance of our communities and small businesses and we are pleased to expand our partnership with Hello Alice and GEN Global. As we have already seen, the path to a global economic recovery is not straightforward and we plan to continue our KKR Relief Effort programs to support the high-impact organizations and businesses playing a critical role in rebuilding and strengthening our communities,” said Joe Bae and Scott Nuttall, Co-Presidents and Co-Chief Operating Officers of KKR.

The businesses in the latest round of KKR’s SBB program are 69% women-owned, 81% minority-owned and 24% owned by veterans or their immediate family members. To date, 74% of the small business owner recipients have said that KKR’s grant was pivotal to the survival of their business through the pandemic.

"The challenges facing small business owners today are unprecedented, and the environment in which they are operating in is changing every day as the COVID-19 pandemic continues to evolve. Yet small business owners across the country are finding unique ways to not only survive but thrive and we see that in the data. 50% of all grant applicants indicated they have introduced a new product or service in reaction to the challenges created by the COVID-19 pandemic, an explicit demonstration of the entrepreneurial spirit that powers our economy," said Elizabeth Gore, Co-Founder and President of Hello Alice. "Through our strategic partnership with KKR, we have been able to provide small business owners with capital that we hope allows them to ensure the long term viability of their businesses."

KKR SBB and KKR Grants are available to organizations around the world with recipients selected on an ongoing basis.

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. Small businesses can learn more at kkr.helloalice.com. The next round of applications will open in September.

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. The application for nonprofits is available at www.kkr.com/grants. The current round of applications is open until September 24, 2021.

About Hello Alice

Hello Alice is a free, multichannel platform that helps businesses launch and grow. With a community of nearly 500,000 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. A Latina owned company, 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.

KKR Small Business Builders Recipients

Jessica Adnani Personalized Solutions | Scottsdale, AZ   Bakeer Al Mateen Pen & Chisel Real Estate | Baltimore, MD   Stephanie Allen Northgate Land Development | Baton Rouge, LA   Norman 'Akin' Alston Engageable Designs Unleashed | Kent, WA   April Anderson Good Cakes and Bakes | Detroit, MI   Pearl Bailey-Anderson LA Pearl Beauty Emporium | Philadelphia, PA   Daniel Barat Lakeview Rewired Cafe | Chicago, IL   Bril Barrett M.A.D.D. Rhythms | Chicago, IL   Alisha Battle Perfect Reflections Daycare | Blue Island, IL   Lindsay Bergman Green Mountain Painting & Contracting |Fort Collins, CO   Nicole Broushet The Vegan Nest | Worcester, MA   Pomai Brown Pomai Entertainment | Waikoloa, HI   Tresalyn Butler-Sharp Young Chefs Academy of Gahanna | Columbus, OH   Candace Carrillo The Stillwell House | Tucson, AZ   Javier Castillo Castillo's Restaurant | San Jose, CA   Galina Cherkas Little People Preschool | San Francisco, CA   Christy Cooks Lancook Transportation | Morrow, GA   Diane Cottle Genanscot Services | Detroit, MI   Micah Crews Gavin's Downtown | Harrisburg, AR   Maria Daniel Tree of Life Adult Day Care | Miami, FL   Dr. Kristian Edwards BLK + GRN | Upper Marlboro, MD   Rebecca Eseonu-Chukwu Xcel |South Riding, VA   Dana Fisher Specialty Marketing, LLC Dental On Location | Bountiful, UT   Matthew Foulds The Eco Larder CIC | Edinburgh, Scotland   Hector Guadalupe Unibody Fitness| New York, NY   Kyla Hanaway-Quinlan Pawtuxet Village Café | Cranston, RI   Karen Harris Orange Fox Electrical | Dereham, England   Nam Hoang Freshroll | San Francisco, CA   Malika Jacobs Kingmakers | Columbus, OH   TeOnya Johnson The Heavy Hanger | Wichita, KS   Jasmine Jones Prestige Play and Learn | Norristown, PA   Mark Kahn Downtown Yogurt | Jersey City, NJ   Julieta King Villa Mexico Cafe | Boston, MA   Micki Krimmel Superfit Hero | Crestline, CA Tammie Latrell Harris Mezzo Agency | Atlanta, GA   Michele Liddle The Perfect Granola | Victor, NY

Sophia Louis Auntie Sophie's Daycare| Lancaster, CA   Desarae Marhofer Beautiful You Skincare Studio | Pueblo, CO   Ivy Mellow Ivy's Simply Homemade | Waterford, CT   Leydi Meza Oregon Design Specialist | Portland, OR   Edith Morris BigOak Country Company | Urbanna, VA   Lorraine Newton Taste of the Caribbean | Capital Heights, MD   Jay Newton-Small MemoryWell |Washington DC   Bryan O'Neill Pilot Pipeline | New Hyde Park, NY   Jeana Parenti Clovis Floral & Café | Clovis, CA   Tarasha Pearson Pearson Pediatric Dentistry | Washington, DC   Dionne Presinal Bronx Yoga Lab | Bronx, NY   Nur-E Rahman Korai Kitchen | Jersey City, NJ   Sylvestra Ramirez Physical Therapy of Milwaukee | Milwaukee, WI   Wesley Rankin HiveBoxx | Seattle, WA   Mandy Reed Reed Agency | Canon City, CO   Joyce Reed Slow Burn Hot Chicken | Madison, TN    Christine Rose 4 Corners Yoga + Wellness | Dorchester, MA   Christian Santos Movers & Co. | Lancaster, PA   Zaheda Sayed Golden Eagle Shuttles | Lyndhurst, NJ   Marvin Scarborough Foot Soldiers | Brooklyn, NY   Sasha Schwartz Scribble Art Workshop Corporation |Wingdale, NY   Amanda Scotese Chicago Detours | Chicago, IL   Kristin Sherman The Learning Experience at Allen | Allen, TX   Gemma Sole N.A.bld | New York, NY   Christine Staley Magic City Hoagies | Minot, ND   Thomas Todd Championship Martial Arts | Omaha, NE   Adriana Tucker Bliss In Home Healthcare | Norfolk, VA   Akbar Vaiya One Eyed Mike's | Baltimore, MD   Narendra Varma Our Table Cooperative | Sherwood, OR   Arlene Wagner Bub and Pop's | Washington, DC   Angela Wandera FLORENA |Eden Prairie, MN   Zuzana Warner Green Bench Cafe | Dublin, Ireland   Erin Westgate Songbird Coffee & Tea House | Phoenix, AZ   Vaughn J Whitfield Maximum Fitness | Walkersville, MD Aaron Young The Green Company | Detroit, MI   Lorena Zeilman True Shine | Flagstaff, AZ

KKR Grants Recipients
COMMUNITIES
Support for food security, safe housing, public health, and crisis relief
Apex For Youth Inc. New York, USA   Conservation X Labs, Inc. Washington DC, USA   Women In Need New York, USA   Her Justice New York, USA   Off Their Plate Boston, USA   Kids’ Meals Houston, USA   TWC2 Singapore, SG	New Neighbors Partnership New York City, USA   Peace First Boston, USA   Samaritans Ewell, UK   Special Olympics Northern California Pleasant Hill, USA   The Jed Foundation New York, USA   West Valley Community Services Cupertino, USA   World Childhood Stockholm, SE

OPPORTUNITIES
Support for innovative pathways of workforce recovery and development
Asociación Cultural Norte Joven Madrid, Spain   Envision London, UK   Girls Who Code New York, USA   Hudson Guild New York, USA   Rebuilding Together NYC New York, USA	The Scholarship Academy Atlanta, USA   Urban Alliance Washington DC, USA   Vision y Compromiso Los Angeles, USA   Right to Play New York, USA   Start Small Think Big New York, USA

HEROES
Support for teachers, first responders, essential workers and frontline medical professionals
Save the Music Foundation New York, USA   BUILD New York, USA	Global School Leaders San Francisco, USA   STEM Library Lab New Orleans, USA

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

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FAQ

What is the latest KKR Relief Effort grant announcement?

KKR announced the awarding of $10,000 grants to 72 small business owners and over $4.7 million to 28 nonprofits.

How much has KKR committed to small businesses?

KKR has committed a total of $4 million to support small businesses through its relief efforts.

What percentage of KKR grant recipients are minority-owned businesses?

81% of the businesses awarded grants by KKR are minority-owned.

What is the impact of KKR's grant programs on small businesses?

74% of small business recipients stated that KKR's grant was crucial for their business survival during the pandemic.

When did KKR start the Relief Effort programs?

KKR launched the Relief Effort programs in response to the COVID-19 pandemic in the first half of 2020.