Duke Energy Foundation selects Rutherford Town Rising to receive $25,000 in funding to support small business growth

RUTHERFORDTON, N.C. – This week, the Duke Energy Foundation announced it has granted $25,000 to Rutherford Town Rising (RTR) to support small businesses looking to expand, upgrade technology and improve storefronts in Rutherfordton. 

The grant is part of $700,000 in new funding made available to North Carolina small businesses in partnership with community development organizations like RTR. Small business grants ranging from $1,000 to $5,000 will be distributed through 20 community organizations to support retail shops, restaurants and other small businesses looking to expand, upgrade technology and improve downtown storefronts. 

Now in its fourth year, the program has provided over $2 million in funding to small businesses since its inception during the COVID-19 pandemic.

“The Duke Energy Foundation’s small business grant program has helped fuel a resurgence of entrepreneurial small businesses ranging from bookstores to restaurants in our state,” said Kendal Bowman, North Carolina State President for Duke Energy. “These small business grants ensure Main Streets across North Carolina are well positioned to benefit from our state’s unprecedented economic growth.”   

Small businesses play a critical role in the state’s economic health and employ nearly half of North Carolina’s workforce, according to the U.S. Small Business Administration. 

"As the cost of living increases, our small businesses face additional challenges such as staff shortages and rising inventory costs. These funds from Duke Energy will help our downtown merchants expand their offerings, upgrade displays, and grow their online presence," stated Jim Masek, Board President.

Businesses located in the RTR downtown district can apply for these funds by visiting explorerutherfordton.com/dukegrant. Applications must be submitted by September 13 and recipients will be announced by October 7.

For more information on the Duke Energy Foundation and its initiatives, visit duke-energy.com/Foundation.