Lowes and the Local Initiatives Support Corporation are providing $55 million in grants to small businesses hampered by COVID-19. | Stock Photo
Lowes and the Local Initiatives Support Corporation are providing $55 million in grants to small businesses hampered by COVID-19. | Stock Photo
Lowe's and the Local Initiatives Support Corporation committed to making available $55 million to businesses that have been devastated from COVID-19 and its resulting financial impacts, Moorseville officials said.
The money will be nearly split between minority- and female-owned businesses and companies based in rural parts of North Carolina, the release said. The partnership will allocate $30 million for minority- and female-owned businesses, with the remaining $25 million designated for the rural community businesses.
The grants are available for paying rent, utility bills, payroll demands, past due bills to vendors and upgrading infrastructure technology, the release said. Eligible businesses that qualify, can receive a grant of up to $20,000.
Though the current application round is closed, the LISC website notes another application will begin at the end of August. Additional grant application requirements and details are available online.
Submitted applications are reviewed based on priority needs and circumstances, with the final awards selected through a random process, the LISC website said.
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