Tuesday, October 18

Starbucks creates jobs, not just baristas

The chairman of Starbucks wants to support job creations. Not by opening more stores and paying college grads minimum wage to make foam, but by supporting small businesses. But how? With a pretty good plan in my humble opinion. It's called Create Jobs for USA

Americans themselves can start lending to small businesses, with Starbucks serving as the middleman. Starbucks partners with Community Development Financial Institutions, or CDFIs who are under the radar lenders, mostly non-profits with very low loan defaults. These lenders specialize in expending credit, getting paid back, and paying back investors. In other words, they are not giant loan assholes who want to ruin your life forever and never take their claws out of you.

Starbucks customers can donate money to the effort when they buy coffee. Those who give $5 or more will get a red-white-and-blue wristband. The tag line will read: "Americans Helping Americans."

The best part is that the donations aren't loaned out, but turned into equity that can be leveraged at a 7 to 1 rate. So five dollars is worth 35 dollars going to the small businesses. And Starbucks is kicking it off with a five million dollar donation.

The program starts November 1st, so after a weekend of Halloween-ing, head over and donate some change. You may be funding a totally awesome sandwich shop run by your best friends who will name a sandwich after you.

Having a job enthusiast

A Plus1Press Publication

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