Small Business News
Hello Alice Surpasses $50 Million in Small Business Grants
The platform Hello Alice has achieved a major milestone in its quest to boost small businesses.
About the milestone and Hello Alice:
Hello Alice has revealed that its grant programs have now provided more than $50 million to small businesses since 2020. As the platform notes, these various grant programs have provided funds to thousands of businesses in diverse industries, including retail, technology, sustainable energy, and more. Additionally, nearly half of the small businesses that have received Hello Alice grants were founded within the past five years.
The grant-giving milestone comes as the FinTech nears the conclusion of a blockbuster year. This summer, the company expanded its accelerator and “boost camp” programs with partners such as Progressive Insurance, Antares Capital, Wells Fargo, and FedEx. These programs not only feature skill-building opportunities for entrepreneurs but also provide grants to hundreds of participants.
Beyond grants, Hello Alice is helping support small businesses in other ways. For example, the platform’s Business Health Score tool can help business owners evaluate their financial situation and see which tools might best suit their businesses. The platform also provides resources that can also help owners improve their credit scores.
Notably, earlier this year, Hello Alice closed a Series C funding round. Although the amount of money raised in this round was not disclosed, the company says the total company valuation is now $130 million.
What they’re saying:
Commenting on the grant milestone, Hello Alice co-founders Elizabeth Gore and Carolyn Rodz stated, “We began as a small business helping other small businesses. Now serving over 1.5 million entrepreneurs, we are thrilled to have contributed over $50 million in grants to our community. We are incredibly proud of the entire Hello Alice team and our valued enterprise partners for reaching this monumental achievement and showing the power of investing in small business.”
The co-founders continued, “Main Street remains the economic engine of our nation, and it still requires better support and financing to thrive successfully. Together, we continue to launch more grant programs and build more tools that inspire growth for small businesses across the country.”
Meanwhile, one grant recipient — John Griveas of Fetch Gourmet Dog Treats — noted, “The grant we received from Hello Alice arrived just as we were facing a potentially devastating challenge. Our lease was terminated unexpectedly and we needed to relocate fast to keep our business going. The grant made this unplanned move possible and allowed us to stay focused on serving our customers and community.”
My thoughts:
Hello Alice is a platform that comes up again and again when it comes to small business funding and support. Therefore, it’s not really surprising that the company would reach this impressive and important achievement. Considering that $50 million in funding has gone to small businesses over the course of four years and the company continues to pick up steam, I predict that Hello Alice will be able to reach the $100 million milestone within the next two years — let’s see if I’m right.
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