Lowe’s announced Wednesday that it would assist minority-owned businesses with $25 million in grants to support efforts to relaunch the American economy.
Lowe’s is dishing out the funds to help small businesses, especially home improvement professionals, in need of masks, personal protective equipment and other supplies to operate safely. The new funds follow $340 million of support the home improvement retailer provided for Covid-19 response activities in the first quarter.
“These are going to be minority businesses and other businesses that are now starting to reopen,” CEO Marvin Ellison told CNBC’s Jim Cramer in a “Mad Money” interview. “So we just want to continue to not only run a…