BlackEnterprise.com
June 12, 2020
Derek Major
Lowe’s, the home improvement superstore, opened its first round of grant applications for $25 million in small business grants for minority-owned businesses.
Late last month, Lowe’s CEO Marvin Ellison announced Lowe’s would assist minority-owned businesses with $25 million in grants to support efforts to relaunch the American economy. According to a Lowe’s release, the Local Initiatives Support Corporation (LISC), the nation’s largest community development organization, will manage the process of vetting applications for grants.
To apply for a grant, small business owners should visit LISC.org/lowes. For this round, all applications must be submitted by Wednesday, June 17th at 11:59 p.m. ET.
The grants are intended to provide emergency assistance. Eligible expenses include:
June 12, 2020
Derek Major
Lowe’s, the home improvement superstore, opened its first round of grant applications for $25 million in small business grants for minority-owned businesses.
Late last month, Lowe’s CEO Marvin Ellison announced Lowe’s would assist minority-owned businesses with $25 million in grants to support efforts to relaunch the American economy. According to a Lowe’s release, the Local Initiatives Support Corporation (LISC), the nation’s largest community development organization, will manage the process of vetting applications for grants.
To apply for a grant, small business owners should visit LISC.org/lowes. For this round, all applications must be submitted by Wednesday, June 17th at 11:59 p.m. ET.
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
“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,” Ellison said in a statement.
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