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10,000
Small Businesses (Goldman Sachs) |
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 The 10,000
Small Business Program is a $500 million investment made by
Goldman Sachs to help create jobs and economic opportunity
in the U.S. by helping existing small businesses to grow.
The program works by giving small business owners greater
access to education, mentors, networks and financial
assistance.
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Education
is provided through local community colleges, colleges,
universities and other institutions. Goldman Sachs provide
funding to these institutions to provide scholarships to
underserved small business owners and build educational
capacity. Students will receive a practical education that
focuses on skills that can immediately be applied by
business owners, including accounting, marketing and human
resources management. Academic institutions include the
following:
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American Association of Community Colleges
• Association of Community College Trustees
• LaGuardia Community College
(Long Island City, NY)
• Los Angeles City College (Los Angeles, CA)
• Long Beach Community College District
(Long Beach, CA)
• Los Angeles Southwest College
(South Los Angeles, CA)
• Delgado Community College (New Orleans, LA)
• Cornell University
• Tuck School of Business Administration
at Dartmouth College
• UCLA Anderson School of Management
• Wharton School of the University of Pennsylvania |
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Mentorship and networking
and technical assistance is offered to participating small
business owners through partnerships with national and local
business organizations, professional services firms and the
people of Goldman Sachs
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Financial
Assistance can be obtained through community Development
Financial Institutions (CDIs). Goldman Sachs provided
over $300 million in funding to these institutions to
support small businesses. Loans may be applied for
through Community Development Financial Institutions in
keeping with their existing loan practices. Financial
institutions include the following:
•
National Development Council (NDC).
• Seedco Financial, Inc.
• Valley Economic Development Center, Inc.
• Hope Enterprise Corporation (HOPE) |
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Currently the program is being offered in the
following locations:
Los Angeles, CA
Long Beach, CA
New York, NY
New Orleans, LA
Houston, TX |
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The requirements to get into the program
include the following:
• The business must be in operation for
at least two years
• Business revenues between $150,000
and $4.0 million in the
most recent fiscal
year
• The Business must have a minimum of
four employees
• Have limited access to a business and
management education
program
• Have limited financial resources to obtain
a similar level of
education
• Have limited access to capital
• Have a desire and the motivation to grow
the business and create
jobs
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To participate in the
program you must apply at the participating educational
institutions.
By
Owen Daniels
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