Starbucks - Venti Plans for Microloans
"The micro-lending revolution, which made it possible for community-based lending institutions to bundle together micro-donations of $25 into loans for entrepreneurs in emerging markets, is making its way to your local Starbucks. Starting November 1, if your local bank won’t give your small business a loan, you might just be able to receive financing from hundreds of thousands of everyday coffee-drinking Americans who care about bringing jobs back to their community. At over 7,000 Starbucks coffee shops around the nation, patrons will be able to submit micro-donations as small as $5, which will then be re-packaged into larger loans for worthy local businesses."
Interesting idea. I've argued for a while that helping the unemployed and underemployed develop basic small businesses and teaching the basic skills required to run them effectively is, perhaps, a more effective workforce development strategy than sending someone to school for two-years and/or getting them a certificate in hope they'll find a job. Very simple stuff, ebay stores, mowing lawns, cleaning homes, etc. Microloans would obviously be a piece to that puzzle. The other piece would be great tutoring and mentoring.
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