With the toll of untold numbers of small businesses affected by COVID-19, Lowe’s announced it has donated $900K to LISC San Diego to help small business owners in San Diego County impacted by the pandemic.
A local community development financial institution, LISC San Diego will use the funds to provide grants of up to $20,000 to businesses facing immediate financial pressure because of COVID-19 — especially entrepreneurs of color, women-owned businesses and other enterprises that don’t have access to flexible, affordable capital in historically underserved communities.
The grants are designed to help businesses fill urgent financial gaps — from paying rent to meeting payroll — until they can resume normal operations along with technical assistance.
The LISC is a non-profit funding agency founded in 1991, LISC San Diego has invested $232 million in grants, loans, and equity investments in the city’s low-income communities. This investment has leveraged $1 billion in total development costs, leading to the creation of more than 6,000 affordable rental housing units for San Diego’s most vulnerable families and the
development of 1 million square feet of retail and commercial space.