Table of Contents
Key Points
- Lowe's launches $2 million disaster relief fund via Local Initiatives Support Corporation (LISC) to aid Western North Carolina small businesses in recovery.
- Lowe's, through LISC, will provide 100 grants of $20,000 each to small businesses for payroll, rent, and equipment replacement.
- Lowe's will also host local events to support small businesses, including Thanksgiving meal distributions and a Holiday Pop-Up for local artisans.
Lowe’s Companies Inc., led by one of the world’s highest-ranking Black CEOs, Marvin Ellison, has announced a $2.5 million investment to support the recovery of small businesses in Western North Carolina following Hurricane Helene.
The fund, part of Lowe’s ongoing crisis support, provides grants to small businesses in disaster-declared areas and resources to local development organizations, ensuring swift economic recovery.
Lowe's $2 million relief fund boosts small business recovery
“The economic toll of Hurricane Helene will be felt for years to come. Small businesses are the cornerstones of the communities we serve—and we are committed to supporting our community every step of the way,” said Marvin Ellison, Lowe’s chairman and CEO. “The faster we help small businesses get back on their feet, the faster the region can begin to recover.”
The $2 million fund will offer 100 grants of $20,000 each to businesses affected by the hurricane, helping with payroll, rent, and equipment replacement. The Local Initiatives Support Corporation (LISC), the country’s largest community development organization, will manage the fund. Eligible businesses can apply from Nov. 18 to Nov. 22.
In addition, Lowe’s will distribute 3,000 Thanksgiving meals to over 12,000 residents across six stores on Nov. 26, benefiting local businesses like The Blackbird Restaurant and Well Bred Bakery. On Nov. 30, the company will host a Holiday Pop-Up in West Asheville for artisans affected by the flood, with each receiving a $1,000 grant.
These efforts are part of Lowe’s broader $12 million commitment to support recovery from Hurricanes Helene and Milton, including a $750,000 grant for veterans housing and volunteer efforts to clear debris.
Lowe’s commits $12 million to hurricane relief
Lowe’s, a Fortune 50 home improvement retailer, operates over 1,700 stores and employs roughly 300,000 associates. As of May 3, 2024, the company had 1,746 stores encompassing 194.9 million square feet of retail space.
Ellison, who holds a minority stake of 0.13 percent in Lowe’s, has overseen significant growth since taking the helm. The company’s initiative is part of its $12 million pledge to support relief and recovery efforts in the wake of the devastation in Western North Carolina from Hurricane Helene and the extensive damage from Hurricane Milton.
These efforts reflect Lowe’s strong commitment to community resilience and economic recovery, supporting small businesses, artisans, and nonprofits in hurricane-hit areas. Through direct aid, volunteers, and grants, Lowe’s is helping to restore stability and opportunity in Western North Carolina’s hardest-hit communities.
