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Create Jobs For USA Expanding
“Washington is not doing enough,” so businesses have to “step up,” Chief Executive Officer Howard Schultz said yesterday in a telephone interview. Customers of the Seattle- based company have given about $2 million to Create Jobs for USA since it was created last year. The Starbucks Foundation seeded the fund with $5 million to finance loans to small businesses.
“These are like-minded companies who recognize that we all must do our part and can’t wait for Washington,” he said, declining to name the specific companies, which will be announced later this year.
Since Nov. 1, Starbucks has collected money at its U.S. cafes to help fund small-business loans. It teamed up with Opportunity Finance Network, which represents institutions that provide credit to community businesses, to form “Create Jobs for USA.” Through December, the fund has made 278 loans to businesses in the U.S.
Photo by Shinsuke Ikegame
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Cindy Hawkins on February 24th, 2012 8:58 am
I am sitting in Starbucks using their Internet service as I write, a cup of steaming joe at my side while I peck away on my laptop. The days of scorning ‘daydreamy/out of the box/non linear thinking’ should be done away with: new ideas and approaches must be encouraged and, supported financially, as we make our way through, and, I hope… out of the financial crises we are into. I salute Starbucks and entities who are like minded and want to adapt a model that is sleeves rolled up, not just theoretical about ‘what ought to be done to change things.”
dave on February 28th, 2012 1:24 pm
If there not charging interest on bus.loans, then i believe it. How can a business make money anyways if no one has money to spend? The real solution in building a economy is through innovation. This means new product ideas,and only if it creates a demand. You can pump all the money you want into a bus.but if there is not a demand for that particular product then you are wasting your money. This is occurring all over the world due to the fact everyone is trying to sell the same thing because of lack of creativity. So what does starbucks mean by funding loans,does that mean no interests? can someone tell me?,,,, FREELANCE ENGINEER…
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