Lowe’s Pledges $25 Million In Grants For Minority-Owned Businesses

There’s talk, and then there’s action

Maurice Jones of LISC and Lowe’s have teamed up with some great news for small businesses

Maurice A. Jones, LISC CEO

Via LISC website:

“As thousands of small businesses struggle to keep their doors open and their employees paid amid economic devastation caused by the COVID-19 pandemic, Lowe’s Companies, Inc. today opened its first round of grant applications in its previously announced $25 million commitment to provide much-needed relief to minority-owned businesses.”

With big companies such as Ruth’s Chris, Potbelly, Shake Shack and more that ransacked small-business loans meant for actual small businesses, it’s noteworthy just how important initiatives like this are

LISC began offering small business rapid relief grants in April, where it saw more than 50,000 applications in just four days

In its first round of grant applicants they discovered that a huge amount are businesses owned by minorities, veterans and women.

With forty percent in distressed locations, and nearly half have been in business for more than 10 years

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.”— Maurice A. Jones, LISC CEO

The first round wrapped up in June 17th and their the second round is underway, Learn more at www.lisc.org/lowes

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