• 64°

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

Man shot by police after traffic stop in North Carolina

Crime

Police: Man charged with attempted murder in North Carolina machete attack

News

Manteo commissioners approve zoning text amendments, hear Town Common update

News

Dare Board of Commissioners takes steps to finance projects

Lifestyles

Rough-legged hawk: Rare visitor to the refuge

News

Governor’s school supply drive underway

Crime

Police: 65-year-old man found in Rocky Mount suffered multiple stab wounds

Crime

Police investigate fatal shooting near North Carolina baseball field

News

North Carolina man uses part of lottery win for Thanksgiving dinners

News

Tourism Board discusses next step for Event Site

Crime

October criminal and traffic report for Manteo released

Lifestyles

CHNS, Wright Brothers National Memorial to commemorate important anniversaries in December

Crime

North Carolina deputy shot in leg while responding to domestic call

Crime

North Carolina attorney accused in bank fraud conspiracy

News

Coast Guard rescues three hunters stranded on island after boat drifts off

Crime

Prosecutors: Trafficking leader sentenced to 15 years

Business

Clorox bringing 158 new jobs in vitamin division to North Carolina

Crime

North Carolina driver charged in fatal I-85 crash

Lifestyles

Hatteras Island Food Pantry receives Thanksgiving donation; food drive underway

News

North Carolina Senate Democrats pick leadership for session

Crime

One dead after shooting at North Carolina chicken plant

Business

New animals add to the experience for aquarium visitors

Business

Shop Local 2020

News

Cooper revamps North Carolina mask mandate, maintains occupancy limits