Lowe’s Cos. boosts minority-owned businesses

MOORESVILLE, N.C. — Lowe’s Cos. announced late last month that it is distributing $25 million in grants to small and medium businesses owned by members of visible minorities as they navigate reopening. CEO Marvin Ellison, who is the first African American executive to head up two Fortune 500 companies successively, told CNBC that “we just want to continue to not only run a good business but also be a great corporate citizen in all of the communities that we operate in”. The grants are in addition to another $25 million already earmarked for pandemic aid, including $10 million for the purchase of personal protective equipment.