The Bank of Starbucks

I read this the other day and didn’t link to it because I thought it would get a lot of attention elsewhere…but it didn’t, so here you go. Starbucks is starting a program to help their customers lend money to small businesses.

Here’s the idea they came up with: Americans themselves would start lending to small businesses, with Starbucks serving as the middleman. Starbucks would find financial institutions willing to loan to small businesses. Starbucks customers would be able to donate money to the effort when they bought their coffee. Those who gave $5 or more would get a red-white-and-blue wristband, which Schultz labeled “Indivisible.” “We are hoping it will bring back pride in the American dream,” he says. The tag line will read: “Americans Helping Americans.”

This should be a bigger story, shouldn’t it? Banks seem less and less interested in lending money to people as their primary business and things like Kickstarter and this Starbucks initiative are taking their place.

• business
• finance
• Starbucks