How we helped
Starbucks had defined an ambitious plan to invest $100 million into Community Development Financial Institutions (CDFIs) in order to support small business growth and community development projects in BIPOC neighborhoods but needed help bringing that commitment to life. Next Street partnered with Starbucks on the development of the Community Resilience Fund, helping define a strategy for the deployment of the funds, supporting the identification of a set of CDFI partners for the first round of investments, and advising on the deployment of those investments to ensure the Fund achieved its desired impact.
The initial round of funding totaling $21 million was deployed to seven CDFIs across the country, each of which are dedicated to promoting equitable economic growth in their communities. Investees include national organizations, as well as place-based organizations from Georgia to California. Learn more here.