Small businesses can apply for emergency grant assistance to stay afloat during the COVID-19 pandemic, thanks to a $55 million commitment grant from Lowe’s- LISC partnership, according to a release.
The Lowe's and LISC partnership will provide grants of $20,000 to small business owners to help meet their most immediate needs. These eligible expenses include, paying rent and utilities, meeting payroll, paying an outstanding debt to vendors, upgrading technology infrastructure and other operational costs.
The release says $30 million will focus on small businesses owned or led by minorities and women, who often lack access to affordable capital.
There is also $25 million that will support enterprises in rural communities, which typically face even more hurdles than their urban counterparts due to limited access to bank credit, capital and other support services.
All applicants will be linked to a customized, state-by-state resource guide on how to navigate federal, state and local assistance programs and private financing as well as resources available through LISC's network of local and national small business support organizations.
You must submit your application by Monday, Aug. 3 at 11:59 p.m. EST.