I HAVE A BEAN, a coffee company known for its commitment to providing employment opportunities for formerly incarcerated individuals, recently completed a loan repayment with CommonGood Capital – a debt investment aimed at enhancing I HAVE A BEAN’s marketing initiatives. The investment loan was repaid in full with interest and also included the strategic recruitment of a seasoned marketing professional personally effected by the criminal justice system.
The U.S. has the highest incarceration rate in the world with prison population of over 2 million – a 500% increase over the last 40 years. Compounding the problem, formerly incarcerated individuals face tremendous difficulties in obtaining employment, lacking the necessary experience for higher paid and stable positions – combined with employer reluctance to hire or invest in those with criminal records. Along with justice system reforms and community-based preventions programs, this trend may be reversed by removing barriers that make it harder for individuals with criminal records to turn their lives around.
We were honored to be able to provide this infusion of capital that not only bolstered I HAVE A BEAN’s market presence but also helped reinforce the companies dedication to social rehabilitation and empowerment, in line with CommonGood Capital’s core values.
