• 66°

Lowe’s offers small businesses the ‘Shark Tank’ treatment

By Anne D’Innocenzio, AP Retail Writer

Lowe’s is offering small businesses, particularly those owned by minorities, the “Shark Tank” treatment.

The home improvement chain is teaming up with Daymond John, star of ABC’s “Shark Tank” and a New York Times best-selling author, to give potential suppliers the chance to pitch their products to a Fortune 500 company through the Making it . . . With Lowe’s program.

That will allow a small number of entrepreneurs to pitch their products directly to Lowe’s, sidestepping a traditionally arduous process of getting their goods sold in 2,200 stores run by the Mooresville, North Carolina-based company as well as on lowes.com.

Small business owners can apply through Sept. 25. Lowe’s is putting an emphasis on businesses owned by the disabled, people of color, people in the LGBT community, veterans and women. Candidates will be narrowed down to 75, who will then be allowed to submit more in-depth pitches via video.

Five finalists will make a live virtual pitch, hosted by John, to Lowe’s CEO Marvin Ellison and other executives. Lowe’s will also help suppliers with tips on manufacturing their goods and other topics.

In July, the home improvement retailer more than doubled its small business grant program to $55 million, providing financial relief to minority-, women-owned and rural small businesses.

Ellison, one of only a few black CEOs to run a Fortune 500 company, declined to say what percentage of its vendor base is minority-owned.

“We are on a mission to increase that number as much as we can,” he said in an interview Tuesday.

READ ABOUT MORE NEWS AND EVENTS HERE.

RECENT HEADLINES:

Cape Hatteras National Seashore: Museum now open, night driving begins Tuesday

AG: North Carolina to continue seismic testing lawsuit despite WesternGeco application withdrawal

News

North Carolina’s unemployment rate falls to nearly half of lockdown’s peak

Crime

Arrest made in Saturday shooting on Knotts Island

News

NC 12 on Hatteras Island to reopen at 5 p.m., NCDOT advises ‘extreme caution’

News

NC 12 on Ocracoke back open, ferry service resumes

News

Overwash causes closure of parts of NC 12 on Hatteras and Ocracoke

News

Running out of storm names, Atlantic season goes Greek

News

Regional COVID-19 case count update

News

Permit for water treatment system issued for Chemours site

News

Duck Town Council reviews promotions and contracts

News

Mascot name change presentation brought to Dare Board of Education

News

Dare County warns about coastal flooding and NC 12 impact

News

Cape Hatteras Electric Cooperative linemen travel to Alabama to assist with Hurricane Sally damage

Crime

UPDATED: Body found in Virginia believed to be missing North Carolina man, suspect charged

Hyde

NCDOT: Bigfoot Slough dredging tentatively scheduled for next week

News

Cooper: North Carolina can elementary schools move to Plan A in October

News

ARHS reports additional COVID-19 related death in Bertie County

News

Unsettled weather visits Outer Banks

News

Four positive COVID-19 cases reported at Peak Resources

News

Additional COVID-19 related death reported in Pasquotank County

News

NC lieutenant governor: Reopen schools without mask mandate

News

Some North Carolina voters mistakenly get two absentee ballots

Currituck

Currituck County Board of Education names Lutz as superintendent

Lifestyles

Constitution Week begins Thursday

News

Demolition starts for new College of The Albemarle building