Mcdonald's Offers Low-cost Loans To Attract More Diverse Franchisees

Posted: Dec 08, 2021

NEW YORK, Dec 8 (Reuters) - McDonald's Corp (MCD.N) will provide $250 million of low-cost, short-term loans over five years in the United States as part of an effort to boost diversity among its franchisees.

The Chicago-based company also said it will increase its franchisee recruiting and development efforts globally as it seeks to draw new operators from underrepresented backgrounds.

The burger chain has come under fire from current and former Black U.S. franchisees, who have filed lawsuits claiming they were steered to underperforming stores in low-income areas.

McDonald's has denied treating Black owners differently from other owners, and has repeatedly pledged its commitment to diversity and inclusion.

Last week, a U.S. judge threw out a $10 billion lawsuit by the media entrepreneur Byron Allen, who accused McDonald's of racial discrimination for not advertising with Black-owned media.

This year, the fast-food chain pledged to increase national ad spending with Black-owned media, tied executive bonuses to diversity goals, released workforce demographic details for the first time and launched an effort to increase diversity among its suppliers.

Author: Hilary Russ
Date: December 8, 2021
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