The streaming service allows 2% of cash or an estimated $ 100 millionhas transformed lending to minority borrowers into Black-capital financial institutions and community development organizations with a better history than general consumer banks.

As part of the initiative, the company is investing $ 25 million in New York-based companies. Local Initiatives Support Companya development finance company with 35 offices nationwide and supporting Black entrepreneurs in various businesses.

He told Netflix that he was approaching his organization for the first time on a potential deal after George Floyd’s Minneapolis police officer was killed on May 25th, and this started a national account on systemic racism.

“What I remember is that they reached us after we saw the business we invested in small businesses, especially businesses managed by colorful people,” Jones told CNN Business. Said.

Jones said Netflix is ​​one of the few major companies that have invested in LISC over the past three weeks. He said that the financial institutions that Black owned had “never seen anything like this” support since Floyd’s murder, but stated that support should continue over the years if companies want to close the country’s racial wealth. space.