PeopleFund is excited to announce that we have been selected to receive funding as part of Starbucks Community Resilience Fund. The funding awarded to PeopleFund will support small business growth projects in Black, Indigenous, and People of Color (BIPOC) communities. Starbucks has given PeopleFund access to a $3 million, 10-year credit to assist in this growth over the coming years.
Following Starbuck’s commitment to invest $100 million to launch the Starbucks Community Resilience Fund, Starbucks issued the first round of funding of $21 million across seven community development financial institutions to support small business growth and community development projects in BIPOC communities.
“In 2021, PeopleFund launched the BIPOC Small Business Accelerator, a permanent program with the goal of graduating 20 people of color per quarter with the tools, capital, and network they need to establish and grow their businesses. This partnership with Starbucks will make a long-lasting positive impact in our communities ensuring that more business owners than ever have access to what they need to succeed and attain financial stability.” — Gustavo Lasala, Chief Executive Officer, PeopleFund
To read Starbucks’ official press release, please click here.