Starbucks perks up Houston minority communities as part of $100 million investment

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Tuesday, January 19, 2021
New PPP loans aim to help those in lower-income areas
Beyond Starbucks investing in small businesses, there is another option too for anyone who owns one and is struggling during the pandemic. The second round of PPP loans has started. Press play in the video above to hear from a Houston business owner on how a PPP loan helped him stay afloat.

The Bayou City will be a major beneficiary of a new initiative from Starbucks. The Seattle-based, global coffee giant announced that it has selected Houston as one of 12 U.S. cities that will receive funds from the Starbucks Community Resilience Fund.

Seeded with a $100 million investment, the fund will be used to support small businesses and community development projects in BIPOC (Black, indigenous, and people of color) neighborhoods. In addition to Houston, the program will launch in Atlanta, Detroit, Los Angeles, Miami, Minneapolis, New Orleans, New York City, Philadelphia, San Francisco Bay Area, Seattle, and Washington D.C.

SEE ALSO: Second round of funding for PPP includes $280 billion, focusing on smaller business

"Starbucks has always been a company focused on caring for our partners, creating experiences for our customers and playing a positive role in our communities and throughout society," Kevin Johnson, Starbucks president and CEO, said in a statement. "We are excited to make this investment as it aligns with our mission and values and supports our aspiration to advance equity and opportunity in the communities we serve."

READ NEXT: How you can support black-owned businesses in Houston

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