Coffee giant to give a bit back

The global coffee giant Starbucks are giving a bit back to the community in terms of job creation efforts by partnering with the non-profit Opportunity Finance Network, a national network of 180 community development financial institutions (CDFIs) that orchestrate loans to businesses in low-income communities.

The Coffee shop network gave OCN $5 million at the start of the collaboration, which, when paired with the additional $1 million raised, it claims will create up to $42 million in loans to small businesses.

Starbucks has often been criticized in the past but this new scheme is hoped to raise their profile in an ethical way that will benefit many American communities hard hit by recession.