Would You Like A Business Loan With Your Caramel Macchiato?
No, this is not a loan to cover the cost of your coffee.
Starbucks is seeding a new business loan fund with $5 million. Starbuck’s customers can also donate to the program.
Starbucks, through this new business loan program called “Create Jobs For USA”, in conjunction with the Opportunity Finance Network® (OFN);
“will provide loans to underserved community businesses.”
In fact, Starbucks thinks that for every $5 in donations, the fund will leverage some 700% or $35 of financial support to these businesses.
According to CEO Howard Schultz, “We’ve got to thaw the channels of credit so that community businesses can start hiring again.”
So, if you are also looking to help your local community grow new businesses and you are a customer of Starbucks, then by all means donate as your $5 donation could really make an impact.
Or, if you are a small business in an underserved community and have no hope of securing a business loan from your local bank, this program may just be right for you.
Personally, it is nice to see Starbucks giving back a little given the price for a cup of coffee.
We at Business Money Today wish them much success in this endeavor as all small businesses can use any and all help these days – starts November 1st.
For More About This Program, Please Visit The Create Jobs For USA Site.
