KKR Supports 74 Small Businesses and Nonprofits in the Most Recent Round of Grants to Aid Global Economic Recovery

KKR today announced the third round of KKR Relief Effort grants awarded by its two flagship projects, KKR Small Business Builders (SBB) and KKR Grants. KKR and its staff have assisted 159 small companies with support programs and grants of $10,000 each, as well as 82 charities, through these programs, which were initiated last year to assist those affected by the COVID-19 pandemic and its subsequent economic dislocation.

The KKR SBB program's third round awarded $10,000 to 52 small business owners from 22 states. These grants are meant to stimulate growth and can be used to fund a company's day-to-day activities, help it retain or rehire staff, or pivot in response to the pandemic. This round's companies are 52% female-owned, 56% minority-owned, and 23% owned by veterans or their immediate family members. Many of the companies have less than 40 jobs, and more than 81% made less than $1 million in gross sales in 2019.

In the most recent round, the KKR Grants program awarded more than $3.5 million to 22 nonprofits. The beneficiary organizations are headquartered in the United States, the United Kingdom, France, Ireland, and India, and their goals are consistent with the KKR Relief Funds' focus on supporting communities, creating meaningful workforce development, and supporting our frontline heroes.

In addition, KKR Grants are investing in an accelerator model in each of its key regions. KKR will help social entrepreneurs and changemakers working at the convergence of COVID-19 and youth leadership in partnership with Echoing Green (Americas), Impetus (EMEA), and the Asian Venture Philanthropy Network (AVPN) (APAC). Working with these partner groups, KKR will invest in front-line leaders and nonprofits, while also developing the resources and wraparound services required to accelerate change and impact.

Echoing Green: KKR will work with Echoing Green to help find and fund three new Echoing Green Fellows, while also providing follow-on funding for up to 15 existing Fellows.

Impetus: KKR's work with Impetus will aim to bring up to five new organizations and leaders from across the UK into Impetus’s accelerator program for charities.

AVPN: KKR is collaborating with AVPN to enable a new fund across the APAC region that will seek out the best nonprofit leaders and organizations, providing financial support for approximately eight to 12 nonprofits.

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

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, such as providing immediate aid to vulnerable populations impacted by the pandemic, providing innovative pathways to workforce recovery and development, and supporting our heroes, such as teachers, first responders, and essential workers impacted by the pandemic. KKR provides operational and strategic assistance to these organizations..