KKR Supports 87 More Small Businesses And Non-Profits In Second Round Of Covid-19 Relief Grants
KKR today announced the recipients of the second round of KKR Relief Effort grants awarded through the KKR Small Business Builders (SBB)& KKR Grants programs. The $50mn KKR Relief Effort was created by KKR and its employees last year to support those impacted by the COVID-19 pandemic and its resulting economic dislocation. In the latest round of grants, 52 small businesses and 35 nonprofits were selected to receive financial assistance and hands-on support from KKR, the firm’s employees, and its partner organizations.
“We created the KKR Relief Effort to help the people and businesses that make up our communities and are faced with significant challenges as a result of the pandemic. Nearly a year later, the need for this support is at an all-time high and we continue to stay focused on caring for small businesses and working with nonprofits that are having an outsized impact,” said Joe Bae and Scott Nuttall, Co-Presidents and Co-Chief Operating Officers of KKR.
In the second round of the SBB program, KKR awarded $10,000 each to 52 small business owners across the U.S., Europe, and Asia Pacific, with 25 states across the U.S. represented. 85% of these businesses are owned by women, 60% are owned by Black, Latinx, Asian, or Multiracial individuals, and 31% are owned by veterans or military spouses. The top industries supported in the latest round are Health and Wellness, Social Enterprise/Education, Food and Beverage Services, and Consumer Goods/Retail. The grants will support these small businesses to help them maintain day-to-day operations and jobs, while also supporting their future growth. To date, the SBB program has awarded grants to 107 small businesses around the world.
Through the KKR Grants initiative, which is focused on identifying and supporting nonprofits whose work supports priorities related to Communities, and Heroes, KKR awarded more than $7.5mn to 35 nonprofit organizations that are playing critical roles in addressing the challenges resulting from the COVID-19 pandemic. Grant recipients included both international nonprofits and locally focused organizations in the U.S., U.K., France, and Germany. To date, the KKR Relief Effort has allocated approximately $10mn to 60 nonprofits through the KKR Grants program.
“Our grant programs are identifying immensely talented leaders, diverse entrepreneurs, and compelling nonprofits – many of whom have been traditionally underfunded or underrepresented,” said Ali Hartman, KKR’s Head of Global Citizenship. “Together, with their knowledge and our investment, we hope to provide innovative, impactful solutions to the shared challenges our communities are facing in these unprecedented times.”
SBB and KKR Grants are available to organizations around the world with recipients selected in rounds on an ongoing basis.
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