LIIF Joins Starbucks & OFN to Create Jobs
The Low Income Investment Fund (LIIF) is excited to announce that it was named as one of the first community development financial institutions (CDFIs) to receive a capital grant from the Create Jobs for USA Fund, a collaboration between Starbucks and Opportunity Finance Network (OFN). The Create Jobs for USA funds will help LIIF to create and sustain jobs in underserved communities throughout the U.S.
LIIF is proud to be one of just 28 CDFIs in the nation to win a grant in the inaugural funding round. From healthy food stores to child care centers to schools, LIIF invests in projects that create jobs, drive local economies and build better neighborhoods. Since 1984, LIIF has served more than 970,000 people by investing $1 billion in low income neighborhoods and generated 79,000 job opportunities.
The grant was made possible by a $5 million seed contribution from the Starbucks Foundation. The Fund expects to raise tens of millions of dollars more, according to a spokesman for the Fund. Starting yesterday, the Create Jobs for USA Fund is collecting donations at www.CreateJobsforUSA.org and at nearly 7,000 company-operated Starbucks across the country. 100% of the donations will support organizations like LIIF that are lending for job creation and retention across the U.S.