NPR- National Public Radio
By Wendy Kaufman
November 01, 2011
Starbucks is teaming up with a network of community-based financial institutions to help create jobs. Beginning Tuesday anyone can make a tax-deductable contribution at a Starbucks store or online to the Create Jobs for USA Fund. The money will go to companies so they can hire or retain American workers.Mark Pinsky heads the Opportunity Finance Network, a group of about 180 mostly nonprofit lenders that work in underserved communities where credit is often hard to get. Over the past couple of years, Pinsky chatted informally with individuals at Starbucks about ways they might collaborate, but he certainly wasn't expecting the communiqué he got from the company a couple of months ago.
'I got an email late one Monday night saying we are thinking of doing something, can we talk tomorrow morning?" Pinsky recalls. "We talked on Tuesday and by Wednesday we basically had a handshake deal."
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“Community development financial institutions (CDFIs) who are Members of OFN are working in neighborhoods across the
to provide affordable, responsible credit, create and sustain jobs, and to stabilize communities. CDFIs finance community businesses, including small businesses, microenterprises, nonprofit organizations, commercial real estate, and affordable housing.” United States