Duke Energy Foundation Allocates $500,000 to Bolster Small Businesses in North Carolina

Duke Energy Foundation Allocates $500,000 to Support Small Businesses

In an uplifting initiative aimed at empowering small businesses across North Carolina, the Duke Energy Foundation has announced a substantial grant of $500,000. This funding will primarily benefit nonprofit-led programs designed to help local businesses establish themselves, grow, and thrive in a competitive market. The availability of these grants underscores Duke Energy's commitment to fostering economic prosperity in the region.

Grant Details

Nonprofits eligible for this grant can apply for amounts up to $25,000, which will subsequently be utilized to distribute microgrants of as much as $5,000 to individual small enterprises. These funds can aid local businesses, such as restaurants and retail shops, in various significant ways, including completing renovations, acquiring essential equipment or technology, purchasing inventory, and addressing other operational necessities.

The application window for these grants will remain open until June 30, 2026, providing nonprofits ample time to gather relevant materials and submit their proposals.

Previous Support and Future Impact

Reflecting on the success of similar initiatives, Duke Energy highlighted that twenty organizations in North Carolina received funding in 2025 to promote small business support. Some of these organizations included the Beaufort Business Association and the Moore County Economic Development Partnership. Since the year 2020, the Duke Energy Foundation has committed more than $2.9 million to uplift small businesses throughout the state, demonstrating a consistent focus on responsible corporate citizenship.

Kendal Bowman, President of Duke Energy in North Carolina, remarked, "Small businesses are the backbone of the economy, especially in North Carolina where they employ nearly half of the state's workforce. Through strategic grantmaking, the Foundation aids in invigorating local economies, generating job opportunities, and fostering growth in the communities within our service areas." This perspective highlights the far-reaching implications of supporting small businesses not just for the companies themselves, but for the wider economic ecosystem.

Application Process

Nonprofits looking to engage with this program can find more information and the application on the Duke Energy Foundation's official website. With funding available, there is an immediate opportunity for these organizations to start making a significant positive impact on their local economies by helping small businesses navigate through the challenges they face.

About Duke Energy

Duke Energy (NYSE: DUK) stands as one of America's largest energy holding companies, offering services to approximately 8.7 million customers across various states including North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky. The company is deeply engaged in energy modernization efforts, ensuring a robust electric grid and efficient generation resources. Beyond just providing energy, Duke Energy is dedicated to the communities it serves, as indicated by their philanthropy through the Duke Energy Foundation, which allocates nearly $30 million annually to meet various community needs.

For additional details about the Duke Energy Foundation, its initiatives, and opportunities for nonprofits, interested parties can visit Duke Energy's website or follow them on various social media platforms like X, LinkedIn, Instagram, TikTok, and Facebook for inspiring stories about community impact and innovation.