Twelve Charlotte NC Small Businesses Knock Out Surging Utility Bills

Local business owners help pay local families' heat bill this winter

CHARLOTTE, N.C., Dec. 21, 2022 /PRNewswire/ -- Cost to heat a home this winter is a growing challenge to many. Fortunately, a few local small business owners decided to do something about it.

"I live and work in the Charlotte-Matthews area," says Jonathan Roberts who with his oldest daughter Juliana Roberts run a boutique residential real estate company. "Finances are tight. My daughter was getting a new place to live in December, and when she factored energy costs into her cost of living, I was stunned how the rising cost of heating a home put most of the options she was considering outside her reach. It all adds up quickly."

Roberts talked the challenge over with local mortgage broker Bob Kennedy. Their conversations turned into a plan to help out a few local families facing what is sure to become a very challenging financial environment in the new year.

"I knew we had to take action. Families in our community are struggling," Roberts says. "After a few phone calls in a few hours we instantly had a group of twelve business owners stepping up to the plate to give. Wow."

During the pandemic people saved and paid down their debts. That trend is changing rapidly. Many see credit card balances maxing out and those savings have evaporated.

According to the Federal Reserve Notes, "Since late last year, households have decumulated about one-quarter of these excess savings, as the saving rate has dropped below its pre-pandemic trend."^[1]

"Inflation and high interest rates are having an enormous impact on our customers," says Kennedy. "We wanted to help out. It's a small thing, but every little bit helps for someone facing mounting bills. Often times families suffer an unforeseen temporary hardship and things can get really tight, really quick."

The twelve businesses will help two families that own their home with their utility bills this winter. The Energy Information Administration predicts 2023 to be a colder winter than last with a 51% increase in cost for natural gas and a 20% increase for electricity.^[2]

"This is such a wonderful idea and is so needed," says Amy Carr, Executive Director of Matthews Free Medical Clinic. The businesses are partnering with local churches and non-profits like Carr's Matthews Free Clinic to identify the two families to receive the utility bill assistance.

"It is wonderful to see local businesses collaborating in this endeavor," says Jessica Tullar, Executive Director, Matthews Chamber. "Businesses assisting those in need is what community is all about."

Participating businesses: Whitlock Builders, Skidmore Surveying, Shingles Roof Direct, Safeguard Insurance, Window Hero, Charlotte Heating and Air Conditioning, Grattan Pest Solutions, Chiodo Custom Painting, Hunter & Chandler Law Group PLLC, Greenfrog Waterproofing, ALCOVA Mortgage and Jonathan Roberts Realty

CONTACT: Jonathan Roberts, Jonathan Roberts Realty, 704-589-8585, [email protected]

CONTACT: Bob Kennedy, ALCOVA Mortgage, 704-543-1989, [email protected]

^{1https://www.federalreserve.gov/econres/notes/feds-notes/excess-savings-during-the-covid-19-pandemic-20221021.html}

^{2https://www.eia.gov/outlooks/steo/report/winterfuels.php}

SOURCE Jonathan Roberts Realty Inc