Lowe’s closes its first round of grant applications for $25 million in small business grants for minority-owned businesses on Wednesday.
Lowe’s hopes its donation will fuel emergency grants in historically underserved communities, as well as other assistance, to help owners navigate business challenges during the pandemic. The Local Initiatives Support Corporation (LISC), the nation’s largest community development organization, will manage the process of vetting applications for grants that will bring critical aid to minority- and women-led small businesses.
“Lowe’s has been committed to helping minority small business owners – the very backbone of our economy – rebound from the COVID-19 pandemic’s devastating impact,” said Lowe’s President and CEO Marvin R. Ellison.
“Helping people make their homes better extends beyond our walls and into our neighborhoods, communities and country. We’re proud these grants will help minority- and women-led small businesses, many of which have been disproportionately impacted by the pandemic. This commitment is far more than a moment in time – it’s a reflection of who we have been and will continue to be as a company.”
To apply for a grant, small business owners should visit LISC.org/lowes. For this round, all applications must be submitted by 10:59 p.m.CT on Wednesday, June 17.
The grants are intended to provide emergency assistance. Eligible expenses include:
- Paying rent and utilities
- Meeting payroll
- Paying outstanding debt to vendors
- Upgrading technology infrastructure
- Other immediate operational costs
