Starbucks will direct the investments to 12 metropolitan areas and surround regions in Atlanta, Detroit, Houston, Los Angeles, Miami, Minneapolis, New Orleans, New York City, Philadelphia, San Francisco Bay Area, Seattle and Washington D.C.
"Starbucks is investing in the survival of small business by working with CDFIs in key cities across America. CDFIs deliver affordable credit as well as training on disaster recovery and rebuilding – and that is exactly what small businesses need right now to withstand ongoing economic and climate changes," OFN president and CEO, Lisa Mensah said in a statement.
Additionally, the company announced a new collaboration with the Smithsonian's National Museum of African American History and Culture to share educational resources and digital volunteer opportunities in honor of Dr. Martin Luther King Jr.’s legacy.