Duke Energy Foundation offers $500,000 in grants to support North Carolina small businesses

Rhea-AI Summary

Duke Energy Foundation (NYSE: DUK) announced a $500,000 grant program to support small businesses across North Carolina, with applications open through Oct. 31, 2025. Eligible nonprofit organizations may apply for grants of up to $25,000; those nonprofits will award up to $5,000 to individual small businesses for renovations, equipment, inventory or other business needs. Since 2020 the foundation has committed over $2.4 million to North Carolina small-business support, and the foundation provides more than $30 million annually in philanthropic funding.

Nonprofits can apply via the Duke Energy Foundation website; the program targets local economic stimulus and job support in communities served by Duke Energy.

Insights

Community Development Analyst

Duke Energy Foundation is deploying $500,000 to support North Carolina small businesses via nonprofit intermediaries; applications run through Oct. 31, 2025.

The program funnels $500,000 to eligible nonprofits, each allowed grants up to $25,000, which will then award up to $5,000 to individual small businesses for renovations, equipment, inventory or other needs. This design leverages local nonprofits to distribute funds directly to businesses, concentrating impact where organizations already have community relationships.

Key dependencies and risks include nonprofit capacity to select and administer awards and the speed of disbursement; the Foundation funds are finite and grant sizes cap individual awards at $5,000, so reach and depth are constrained. The Foundation previously committed over $2.4 million to similar efforts since 2020, which indicates program continuity but does not guarantee outcomes.

Concrete items to watch in the near term: the number of nonprofits that apply and receive the $25,000 awards, the pace of awards to small businesses before the application cutoff on Oct. 31, 2025, and any reporting on how recipients used funds. These metrics will show actual economic reach and administrative effectiveness over the coming months.

• Eligible nonprofit organizations can apply for grants of up to $25,000.
• Nonprofit organizations will use the funds to provide awards of up to $5,000 to individual small businesses.
• Applications open now through Oct. 31, 2025.

CHARLOTTE, N.C., Oct. 16, 2025 /PRNewswire/ -- Duke Energy Foundation today announced a new grant opportunity, offering $500,000 to support small businesses in communities across North Carolina.

Zoom in: Nonprofit organizations can apply for $25,000 grants, which will then fund awards of up to $5,000 to individual small businesses. Funding can be used by local businesses like restaurants and retail stores to complete renovations, buy equipment or technology, purchase inventory or meet other business needs.

Flashback: Twenty North Carolina organizations were awarded funding for small business support in 2024, including the Downtown Greensboro Foundation, the Durham Chamber Legacy Foundation and the Caraway Foundation in Anson County. Since 2020, Duke Energy Foundation has committed over $2.4 million to supporting small businesses across North Carolina.

Why it matters: "Small businesses are the backbone of the economy, especially in North Carolina where they employ nearly half of the state's workforce," said Kendal Bowman, Duke Energy's North Carolina president. "Through strategic grantmaking, the Foundation helps to stimulate local economies, create jobs and foster economic growth in the communities where Duke Energy operates."

How to apply: Eligible nonprofits can find additional program details and apply via Duke Energy Foundation's website. Applications are open now through Oct. 31, 2025.

Duke Energy Foundation 
Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation is funded by Duke Energy shareholders.

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. 

Contact: Garrett Poorman

24-Hour: 800.559.3853

X/Twitter: @DukeEnergyNC

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SOURCE Duke Energy

FAQ

What is the Duke Energy Foundation small-business grant announced Oct. 16, 2025 (DUK)?

The foundation offered a $500,000 grant pool to support North Carolina small businesses, with applications open through Oct. 31, 2025.

How much can nonprofits apply for in the Duke Energy Foundation program (DUK)?

Eligible nonprofit organizations can apply for grants of up to $25,000.

How much funding can an individual small business receive from the DUK program?

Nonprofits will award individual small businesses up to $5,000 each.

What expenses does the Duke Energy Foundation allow for grant recipients (DUK)?

Funding may be used for renovations, equipment or technology purchases, inventory, or other business needs.

When do applications for Duke Energy Foundation's $500,000 grants close?

Applications are open now and close on Oct. 31, 2025.