KKR Supports 74 Small Businesses and Nonprofits in Latest Grants to Aid Global Economic Recovery

Rhea-AI Summary

KKR announced new grants through its KKR Relief Effort, providing $10,000 each to 47 small business owners across 25 states. Additionally, KKR committed over $3.2 million to 27 nonprofits in the US, UK, and France. A $50,000 grant will support the NYC Partnership Foundation, aimed at bolstering small businesses in New York. Since the initiative’s inception, KKR has provided $33 million in funding to 137 nonprofits and supported 305 small businesses during the pandemic. Notably, 79% of the recent grant recipients are minority-owned.

Positive

• KKR awarded $10,000 each to 47 small business owners, showing strong commitment to small business support.
• The firm committed over $3.2 million to 27 nonprofits, expanding its philanthropic efforts.
• A targeted $50,000 grant to the NYC Partnership Foundation aims to enhance economic growth in New York.
• Since the initiative's launch, KKR has disbursed over $33 million to support nonprofits and small businesses during the pandemic.

Negative

• None.

In Celebration of GivingTuesday, Firm Also Provides $50,000 Community Grant to the NYC Partnership Foundation to Stimulate New Business Creation and Resiliency

NEW YORK--(BUSINESS WIRE)-- 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 47 small business owners in 25 states across the US. The KKR Grants program made commitments of more than $3.2 million to 27 nonprofits based in the US, UK and France.

As part of its KKR Grants program, KKR today also announced plans to deliver a grant of $50,000 to the New York City Partnership Foundation (the “Partnership Foundation”). The Partnership Foundation works with the government, labor and nonprofit sectors to promote economic growth and maintain New York City’s position as a global center of commerce and innovation through contributing directly to projects that create jobs, improve economically distressed communities and stimulate new business creation. Specifically, the grant from KKR will go towards helping small businesses in New York create an online presence, which is key to helping businesses survive pandemic-related losses, build business resilience and prosper in a post-pandemic economy.

“KKR wants small businesses and nonprofits everywhere to know that they are not alone as they continue to work to emerge from the COVID-19 pandemic,” said Ken Mehlman, Partner, Global Head of Public Affairs at KKR and Co-Head of KKR Global Impact. “GivingTuesday is an important reminder that there are incredible organizations like the New York City Partnership Foundation that work tirelessly to rebuild, strengthen and transform communities by creating jobs where they are most needed and supporting local businesses.”

Since launching the KKR Relief Effort in response to the COVID-19 pandemic in the first half of 2020, KKR and its employees have supported 305 small businesses with direct support and grants of $10,000 each through the KKR SBB program. The KKR Grants initiative has provided more than $33 million in funding to 137 nonprofits whose missions align with supporting workforce recovery and development across communities and championing frontline heroes.

The businesses in the latest round of KKR’s SBB program are 79% minority-owned, 62% women-owned and 23% 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.

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.

 

KKR Small Business Builders Recipients
Willie Robinson Chi-town Cuts and Fades | Los Angeles, CA   Michael Bailey Industry Soundz | Blue Springs, MO   Kizela Baker Sweet-Sosumba Vegan Café | Washington, D.C.   Venus Barratt The Wellness Kitchen of Warrenton VA | Warrenton, VA   Joseph Burgess Sugarbaker & Associates | Seattle, WA   Means Cameron BlaCk Coffee Lounge | Cincinnati, OH   Perrin Chipouras Orange Poppy Spa | Boulder, CO   Nyshia Cook NC Music Center | Charlotte, NC   Joel Cosme Community Grounds | Columbus, OH   Lesia Daniel Funtime Preschool of Clinton | Clinton, MS   Nicole Davidson Batter Bar | Lynchburg, VA   Michael Davis Good Vibes | Country Club Hills, IL   Noel Davis Paris Fit Studios | Philadelphia, PA   Ticora Davis Law Office of Ticora E. Davis | Charlotte, NC   Nathaniel DeMont DeMont Guitars | Oswego, IL   Vinessa Dickson The Star Look | Decatur, GA   Melissa Eisner Coffee Bandits | Merced, CA   Patrick Schnettlere Tidal Foods PBC | San Francisco, CA   Cindy Graham Brighter Hope Wellness Center | Clarksville, MD   Twyla Grider Stellar Creative Collective | Union City, NJ   Sandra Griffiths Yoga Angels International Incorporated | Beverly Hills, CA   Deuene Hickman Quality of Life Counseling Center | Hampton, VA   Meredith Kaunitz Art Play Learn | Bowie, MD   Anietra LaBranche Quiet Fire, The Inferno Barre and Dance Studio | Chicago, IL		Alexandria Liu Keen Industries, DBA Fabpro Technologies | Baltimore, MD   Catherine Marcelino Excel Taekwondo Center | Canoga Park, CA   Enu Mkparu Sun Group Energy | Seekonk, MA   OCA Mocha OCA Mocha | Arbutus, MD   Shaunya Noble Pastaholics | Lithia Springs, GA   Candice Wise-Norris Ironworks | Washington, D.C.   Sabrina Peterson Capitol Percussion + Backline Rentals | Riverdale Park, MD   Scott Proctor East Side Pot Shop | Austin, TX   Jon Renthrope Cajun Fire Brewing Company | New Orleans, LA   Cassi Riggs Plant Perks, Inc. | Missoula, MT   Kenneth Ekechukwu Axo Rock Kitchen & Lounge | El Paso, TX   Faryal Rohail WASE Limited | Hemel Hempstead, England   Natalie Salinas Olde Madrid | Racine, WI   Kelly Smith Minni | Boston, MA   Lisamarie Smith Carpe Bleus Catering| Sacramento, CA   Chantel Bratcher-Coleman Shaping Minds Therapeutic Services LLC| Newark, DE   Debra Stirone Gourmet Goodies | Mendon, NY   Huan Sun Catonsville Happy Feet | Catonsville, MD   Kathy Jo Miller Taylor KJ's Cakery Bakery LLC | Kent, WA   Ming Thompson Atelier Cho Thompson | New Haven, CT   Tyrell Timpson Macon Progress Basketball | Beaverton, OR   Designed By Purpose Counseling & Consulting Designed By Purpose Counseling & Consulting | Aiken, SC   Cheing Winston Personfinances4us LLC | Middle River, MD

 

KKR Grants Recipients COMMUNITIES Helping vulnerable populations with their most critical needs including food, housing and healthcare
Age UK United Kingdom   Alameda County Library Foundation California, USA   Black Women's Blueprint New York, USA		The River Fund New York, Inc. New York, USA   Volunteers of Legal Service New York, USA

 

OPPORTUNITIES Supporting job training, workforce recovery, and upskilling programs
Community Access, Inc. New York, USA   Conservation Corps North Bay, Inc. California, USA   CUNY Graduate School of Public Health and Health Policy Foundation, Inc. New York, USA   Emma’s Torch New York, USA   Girls In Tech, Inc California, USA   Global Kids, Inc. New York, USA   Homeless Garden Project California, USA   Juma Ventures California, USA   KindWork New York, USA   Kingdom Causes Bellflower California, USA		New York City Partnership Foundation, Inc. New York, USA   Orion Industries Washington, USA   Power2 United Kingdom   Réseau des Ecoles de la 2e Chance en France – Network of 2nd Chance Schools in France France   The HOPE Program New York, USA   The Knowledge House New York, USA   The Youth Employment Partnership, Inc. California, USA   Towards Employment Ohio, USA   Utah Microenterprise Loan Fund Utah, USA   Year Up Massachusetts, USA

 

HEROES Supporting teachers, first responders, essential workers, and medical personnel
Association Réseau Espérance banlieues France			Partnership for After School Education New York, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130005917/en/

Media:

Cara Major or Miles Radcliffe-Trenner

+1 212-750-8300

media@kkr.com

Source: KKR

FAQ

What is the recent grant amount awarded by KKR to small business owners?

KKR awarded $10,000 each to 47 small business owners.

How much total funding has KKR provided to nonprofits?

KKR has committed over $3.2 million to 27 nonprofits.

What is KKR's grant to the NYC Partnership Foundation?

KKR is providing a $50,000 grant to the NYC Partnership Foundation.

How much has KKR distributed through its Relief Effort initiative?

KKR has distributed over $33 million through its KKR Relief Effort initiative.

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

79% of the recent grant recipients are minority-owned.