Women-run small businesses can apply for $10,000 of grant funds through the investment firm KKR during the spring.
This company’s Small-Business Builders grants program is designed to assist companies providing vital community services and those who have required a change of direction in COVID. It is currently the 7th installment of this grant opportunity. The latest grant opportunity is specifically for female-led companies.
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Small-Business Builders Grant Program from KKR
To be eligible for this grant opportunity, companies must be at or below 51 percent owned by women or are female-owned. The company must be for-profit and have a presence within 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. The annual gross revenue must not exceed $7 million in 2021.
The application window is open, and eligible businesses can submit their applications through Hello Alice, the Hello Alice online grants portal. The deadline for applications is April 22 at 6 p.m. ET. After that, a KKR panel will examine the applications and select winners based on the person who best fulfills the 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, winners will also be able to access educational resources that will help them grow their businesses.
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KKR Small Business Grant Program
KKR first introduced its Small Business Builders grant program in 2020. In the years since, the firm has granted 278 small-scale businesses grants of $10,000. They recently committed the addition of $1.5 million to support businesses in the wake of the pandemic, and its consequences persist across various sectors. The objective of that program aims to assist with the efforts to combat pandemics and aid businesses in growing, retaining employees, and creating new initiatives to benefit their communities.
Past winners comprise companies from various fields, including comedy clubs and kid activity centers for children. Bronx Yoga Lab, an NYC hot yoga studio that was founded in January of 2020, was awarded an award of $10,000 in the latest round of funding. The co-founders Dionne Presinal and Kerry Donegan had to close the studio during their first year of operation. This allowed them to keep their business going and keep their staff of highly skilled instructors.
The previous funding rounds have given grants to various business owners. However, this round is targeted at women who own companies. According to studies by The US Chamber and MetLife, female business owners have experienced a more dramatic drop in the performance of their businesses than their male counterparts in the course of the pandemic. There are many reasons for this disparity, including childcare issues to women’s 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 the most.