– Access to Capital: Goldman Sachs will invest $300m through a combination of lending and philanthropic support to Community Development Financial Institutions (CDFIs). The investment will increase the amount of growth capital available to small businesses in underserved communities and expand the capacity of the CDFIs to deliver technical assistance to small businesses. The initiative will provide technical assistance to graduates of the program to help them access other sources of capital.
10,000 Small Businesses, which has been in development for nearly a year, is a five-year program modeled on the Goldman Sachs 10,000 Women initiative, which creates partnerships between academic institutions and non-profit entities to provide a business and management education to women around the world.
10,000 Women is currently operating in 18 countries, where it is helping women entrepreneurs create jobs and growth in their communities.