Starbucks Chief Executive Officer Howard Schultz, had along with a group of financial institutions shaped the “Create Jobs for USA” fund in October. He had audaciously stated that there was a lack of national leadership on unemployment and this fund would compensate for it. “We can’t wait for Washington,” he said. “We need to do more on our own.”

Starbucks CEO Schultz had created a sensation when he last year called on his peers to “withhold campaign donations to the president and members of Congress until the government reached a deal on the country’s debt, revenue and spending.”

Schultz search for potential partners that would help him expand the fund, has found willing collaborators in Google Offers and Banana Republic, who have become the first businesses to join Starbucks Corp in raising money for “Create Jobs for USA.”

Starbucks said, “The fund already has raised more than $7.5 million and the two new partnerships could bring in another $4 million. The total amount would support about $80 million in lending — enough to help create or sustain more than 3,800 jobs.”

Google Offers has committed to donate $3 per voucher from a sale of sale of $10 Starbucks vouchers at the discounted price of $5 each. The company hopes to raise upto $ 3 million. Gap Inc unit Banana Republic has planned two four-day sales events and will donate $1 million from purchases made during these events.

Schultz said that it was wrong to believe that banks in America had started lending again and insisted that it was not true. On the other hand his “Create Jobs for USA” fund was already putting the money to good use, giving it to the small banks, which in turn were lending it to small businesses to create jobs in start-ups and existing businesses. “In fact, 80 percent of the money we’ve raised has already been (given) out. And we can document with great transparency where the money’s going and the jobs that are being created.” He added.

Known for his outspokenness and candor, Schultz ridiculed the government’s rejoicing over the  recent 8.3 percent unemployment rate, “There are over 13 million Americans unemployed, a large percentage of Hispanics and African-Americans, 42 out of 50 states are facing budget deficits, 11 might not be able to make pension payments between now and the end of the year. And we’re celebrating 8.3 percent unemployment as a victory. I just can’t allow that,”