The Federal Home Loan Bank of San Francisco’s initiative is to give $100 million to help train and create new jobs and help small and medium-size businesses with the eventual hope of employees achieving home ownership.
The first investment for the bank's Quality Jobs Fund is going to the Central Valley Fund in Stockton, to the tune of $5 million.
The Central Valley Fund is an intermediary that will directly help local small business.
Stockton was chosen because the community has a wage gap, but with a good track record. After analysis, the bank felt confident that the money would be doing good in Stockton.