Small-scale female-owned businesses may apply for up to $10,000 in grant funds through the investment company KKR during the coming spring.
Its Small-Business Builders grants program seeks to assist companies providing vital community services and companies that require a change of direction in COVID. The current round is the seventh cycle in the program. The latest grant opportunity is specifically for female-led businesses.
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Small-Business Builders Grant Program from KKR
To be eligible for this grant, companies must be at or below 51 percent of the company’s owners are women or are female-owned. Businesses must be non-profit and are based in the US or another eligible country (including Australia, China, England, France, Germany, India, Ireland, Japan, Luxembourg, Singapore, Spain, and United Arab Emirates) with between five and fifty employees. Gross annual revenues should also not exceed $7 million by 2021.
The application deadline is open to eligible businesses. You can apply via this Hello Alice online grants portal. The deadline for applications is April 22 at 6 p.m. ET. After that, the KKR panel will examine the applications and select winners based on whether or not the applicant matches the stated conditions and terms of the grant program. KKR will notify recipients of the grant via email by June 2022. In addition to the grant funds, recipients will also have access to educational resources to help grow their businesses.
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KKR Small Business Builders Launches Grant Program
KKR initially launched its Small Business Builders grant program in 2020. In the years since the firm has provided 278 small companies with grants of $10,000. In addition, they have pledged the addition of $1.5 million to help companies as the pandemic, and its effects persist across a variety of sectors. The initiative aims to help relief efforts for the pandemic and to assist businesses to grow, retain employees, and create new initiatives to benefit their communities.
The winners of previous rounds include businesses from various fields, including comedy clubs and kid activity centers for children. Bronx Yoga Lab, an NYC hot yoga studio established in January of 2020, was awarded an award of $10,000 in the most recent round of funding. The co-founders, Dionne Presinal, as well as Kerry Donegan, had to close the studio for the majority of their first year of operation. This allowed them to keep their business going and to keep their team of highly educated instructors.
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Previous funding rounds have granted grants to various business owners. However, this round is targeted at women who own companies. According to studies by MetLife and the US Chamber and MetLife, female business owners have seen a greater drop in their business performance than their male counterparts during the pandemic. There are many reasons for this disparity ranging from concerns about childcare to women’s being more likely to work in consumer-facing sectors. However, programs like the KKR’s Small Business Builders aim to give a little relief to companies that need it the most.
