Unless you have had your head stuck in a hole, you know many, many Americans are going through tough economic times. This includes a high rate of unemployment. It is estimated that 9.1% of the U.S. labor force is unemployed. This rate goes up higher in the Hispanic community (11.3%) and even higher in the African-American community (16.7%). But, Starbucks and Opportunity Finance Network (OFN) are trying to help.
OFN is a network on Community Development Financial Institutions that are dedicated to offering reasonable lending to low-income or otherwise disadvantaged people and communities.
In the past few years, Starbucks has undergone some downsizing, closing 600 stores in 2008, closing 300 stores in 2009. This amounted to about 18,400 jobs lost. Maybe that was part of what caused Starbucks to join with OFN on project Create Jobs for USA.
OFN recognizes that small businesses are the backbone of this country. According to the U.S. Small Business Administration, 65% of the jobs in the last 15 years have been created by small businesses.
But, small businesses often have a hard time getting funding from financial institutions.
Starbucks decided to kick off the Create Jobs for USA project by donating $5 million. All of that will go towards not only creating, but sustaining jobs in low-income communities where people need it the most.
You can help too! For only $5, you can be a part of Create Jobs for USA. One hundred percent of all donations to Create Jobs for USA go to the project. In return, you get a cute red, white, and blue wristband that has a metal plate that reads “Indivisible.” Out of every $3,000 raised, OFN estimates that one job is created or maintained.
It may take time and effort to get our country back on the right track. But, if everyone is willing to help and pitch in, it can be done…one job at a time.