Sam’s Club, whose corporate motto is to “be in business for small business,” is donating $1 million to the Local Initiatives Support Corp. (LISC), which provides emergency funds to businesses impacted by the coronavirus.
Tony Rogers, chief member officer at Sam’s Club, said the funds are set aside for small businesses hurt by COVID-19. Rogers said LISC will use the fund to provide grants of up to $10,000 to small businesses, with particular emphasis on those in historically underserved communities – such as those owned by women, minorities and veterans.
The grants will help business owners fill urgent financial gaps, such as paying rent and meeting payroll until they can resume normal operations or other financing becomes available. The donated funds also will support technical assistance to help businesses and organizations navigate the range of public and private financial assistance programs.
Sam’s Club is also asking its member base that can help to join the effort.
“We know many of our members want to help their communities, so we invite them to join us to help small businesses by donating directly to the LISC Rapid Relief and Resiliency Fund at the link provided.”