Updated: Jun 12, 2020
Lowe's Companies, Inc. (NYSE: LOW) today announced that its first round of grant applications for minority-owned businesses opened. Local Initiatives Support Corporation (LISC) will manage the process of vetting applications
"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", says Lowe's President and CEO Marvin Ellison.
"Our country's small businesses are the backbones of rural and urban communities," Jones said. "They require capital, right now, if they are to continue to provide vital goods and services to their customers and help drive long-term recovery and growth. We are grateful to Lowe's for their strong commitment to doing just that."
Small Businesses can apply for grants between $5,000 and $10,000.
Deadline to apply is June 17th.
Eligible expenses that small businesses apply grant towards for include:
Paying rent and utilities
Paying outstanding debt to vendors
Upgrading technology infrastructure
Other immediate operational costs
Frequently Asked Questions: https://www.lisc.org/covid-19/small-business-assistance/small-business-relief-grants/frequently-asked-questions/
SOURCE Lowe's Companies, Inc.