Lowe’s CEO Marvin Ellison announced the home improvement company would assist minority-owned businesses with $25 million in grants to support efforts to relaunch the American economy.
According to CNBC, the grants are an effort to help small businesses, especially home improvement professionals that need masks, personal protective equipment, and other supplies to operate safely.
“These are going to be minority businesses and other businesses that are now starting to reopen,” Ellison told CNBC’s Jim Cramer on Mad Money.
In March, Ellison announced Lowe’s would provide $25 million to support workers, customers, and communities.
Ellison joined Lowe’s in July 2018, and is one of four black CEOs of a Fortune 500 company.
