As the pandemic hit business across the world, small business owners are coming up with new ways to stay afloat. Renard Bergstrom, owner of Bergstrom Cars, found ways to sustain his car dealerships and not layoff any employees. (July 23)
The next deadline for small businesses to apply for COVID-19 business emergency relief grants from Lowe’s is Monday.
The nonprofit Local Initiatives Support Corporation, also known as LISC, is giving out grants ranging from $5,000 to $20,000 thanks to the home improvement chain’s $55 million contribution. In July, Lowe’s doubled its contribution to coronavirus pandemic aid.
Applications will be accepted through 11:59 p.m. ET Sept. 7 in the sixth round of relief grants.
The grants, which do not need to be repaid, will “provide immediate relief for critical needs such as rent, payroll and operational expenses to keep businesses running,” according to a news release.
Save better, spend better: Money tips and advice delivered right to your inbox. Sign up here
Of Lowe’s $55 million contribution, $30 million focuses on small businesses owned or led by minorities and women and $25 million is to support enterprises in rural communities, the release said.
Target car seat trade-in: Target’s recycling event returns Sept. 13. Here’s how to trade in a seat for a 20% discount
According to LISC, the nation’s largest community development nonprofit, applications will be reviewed based on criteria “designed to prioritize particularly challenged businesses, and the final grantees will be randomly selected from the top scoring applicants.”
Those who applied in a previous round need to submit a new application to be considered for the round of grants and each round “has unique aspects and distinct funder requirements.”
The awardees will have to certify that “they are promoting the best interests of the community and are negatively impacted” by the pandemic.
Lowe’s is the largest contributor to LISC’s “Covid Rapid Relief & Resiliency Fund” and other sponsors of the fund include Verizon, Sam’s Club, Wells Fargo, State Farm and AT&T, LISC said.
Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko
Read or Share this story: https://www.usatoday.com/story/money/usaandmain/2020/09/04/coronavirus-relief-small-business-aid-lowes-grants-nonprofit/5701227002/