Starbucks Shows Support for Chicago With $10 Million Investment

While many businesses have been recently investing in the latest technology, Starbucks is instead choosing to invest in communities. According to Restaurant Business, Starbucks plans on investing $10 million to a group of community development organizations in Chicago.

The whopping $10 million will be divided among four organizations whose focus is to drive economic opportunities in Chicago’s underserved communities: Accion Chicago, Chicago Community Loan Fund (CCLF), Local Initiative Support Corporation (LISC) and IFF. The investment couldn’t have come at a better time, as the Seattle-based coffee chain plans to open the Starbucks Reserve Roastery on Chicago’s Magnificent Mile this November 15. According to Restaurant Business, the investment is expected to fund more than 500 loans to small businesses in the Windy City.

“We know our business performs at its best when the communities we serve are thriving,” said Starbucks CEO Kevin Johnson, according to Restaurant Business. “This sustained investment will provide borrowers who often face barriers with access to capital and mentorship to grow their business and create more jobs in Chicago.”

**Starbucks isn’t the only business that’s getting in the season’s giving spirit––**Noodles & Company announced that it will give back to its communities by hosting local fundraisers across the country for National Day of Giving on December 3, 2019.