• by Danielle Oster , November 15, 2024

Mooresville, North Carolina-based home improvement chain Lowe’s launched a small business recovery fund, committing $2.5 million to help local businesses in its home state recovering from Hurricane Helene.

The Lowe's Western North Carolina Small Business Recovery Fund will provide grants directly to small businesses in the region recovering from the disaster, as well as support local business development organizations working to help local businesses navigate the disaster relief aid process.

From Nov. 18-22, small businesses in disaster-declared areas within western North Carolina are eligible to apply for grants to meet urgent needs like rent, employee payroll, and replacing necessary equipment or tools. The Lowe's Western North Carolina Small Business Recovery Fund will award 100 grants of $20,000 to area small businesses.

"The economic toll of Hurricane Helene will be felt for years to come. Small businesses are the cornerstones of the communities we serve – not only are they our customers, but also our vendors, neighbors, church members and friends," Lowe’s CEO Marvin Ellison said in a statement. "The faster we can help small businesses get back on their feet, the faster the region can begin to recover.”

Lowe’s is also hosting a series of local events throughout the week of Thanksgiving, aiming to help area artisans and restaurants impacted by the hurricane. On Nov. 26 the brand will distribute some 3,000 family-style Thanksgiving meals across six Lowe’s locations in Asheville, Banner Elk, Boone, Marion and Weaverville.

This will be followed by a Small Business Saturday activation on Nov. 30, hosting local artisans from Asheville’s River Arts District, with participating vendors receiving $1,000 grants from the company toward replenishing supplies.

The initiatives are part of Lowe’s broader pledge of $12 million toward disaster relief and recovery efforts in the area. Lowe’s was one of a number of brands to help in the wake of Hurricane Helene, with the company and rival Home Depot making among the most significant pledges.