Starbucks is joining with the Opportunity Finance Network (OFN) to help create and sustain jobs on a national level. This new initiative – Create Jobs for USA – is set to launch Nov. 1 and will provide capital grants to select Community Development Financial Institutions (CDFIs). The CDFIs will provide loans to underserved community businesses, which include small businesses, microenterprises, nonprofit organizations, commercial real estate and affordable housing. The goal of Create Jobs for USA is to bring people and communities together to create and sustain jobs throughout America.

The Create Jobs for USA program initially will be seeded with a $5 million contribution from the The Starbucks Foundation is providing the initial seed money of $5 million to kick off the Create Jobs for Use program. Donations will be accepted at company-operated U.S. Starbucks stores and online at CreateJobsforUSA.org.

“We are very excited about the Create Jobs for USA Campaign. Since our local unemployment rate (9.6%) and statewide unemployment rate (11.1%) are even higher than the figure given nationally (9.1%), our CDFI sees a wonderful opportunity to help leverage local dollars for this campaign,” says Michelle Mapp, executive director of the SC Community Loan Fund, which is a regional CDFI and OFN member. “A program of this magnitude could make a real difference to us in helping to create jobs for our area.”

CLF is currently the only OFN member in the state of South Carolina. OFN is the leading network of community lending institutions that invest in opportunities to benefit low-income, low-wealth and other disadvantaged communities in the U.S. Combining innovation and determination, these hand-selected CDFIs are performance-oriented, responsible, and affordable lenders that spark job growth in the areas where it is needed most.