Goldman Sachs Launches 10,000 Small Businesses Initiative
Summary
The Goldman Sachs Group, Inc. announced the launch of a $500m initiative aimed to support 10,000 small businesses across the United States to free thier growth and job-creation potential through access to business education, mentors and networks, and financial capital.The initiative will contribute $200m to these partners to provide scholarships to underserved small business owners and build educational capacity.– Access to Capital: Goldman Sachs will invest $300m through a combination of lending and philanthropic support to Community Development Financial Institutions (CDFIs).The initiative will provide technical assistance to graduates of the program to help them access other sources of capital.The first CDFI who will be receiving financing will be Seedco Financial Services, Inc., based in New York City.