Goldman Sachs pledges $500m. to develop entrepreneurs

Posted on: 14/12/2009


By Ian Wilhelm 17 November 2009 – The investment bank Goldman Sachs has pledged $500-million to help develop small businesses and train entrepreneurs across the country. In addition, the New York company has recruited a high-profile team of advisers, including financier Warren Buffett, to guide the philanthropic effort. …….. the company says the small-business program has been in development for almost a year and is modeled after its 10,000 Women Initiative, which helps educate female entrepreneurs in 18 countries.   As part of the new effort, Goldman will provide $300-million in grants and loans to nonprofit groups, known as community-development financial institutions, that provide capital and noncash-assistance to businesses in neighborhoods often not served by banks. (…)   The rest of the massive commitment will support scholarships for small-business owners to attend classes at community colleges, universities, and other educational institutions.   http://philanthropy.com/news/updates/index.php?id=10199

For more details on the program – Click Here


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