Announced by Goldman Sachs in 2009 as a $500 million initiative, the program has three main components:
Practical Business and Management Education. 10,000 Small Businesses is contributing $200 million to program partners, including local community colleges and business schools. Funds go towards scholarships, faculty training and technical assistance to help build the organizations’ capacity. Students receive a practical education that focuses on skills they can apply immediately, including accounting, marketing and human resources management.
Access to Capital. Goldman Sachs 10,000 Small Businesses has committed $300 million 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 CDFIs to deliver financing and technical assistance to small businesses.
Business Support Services. Small business owners often face challenges finding networking opportunities and expert advice. The initiative provides these vital support services through partnerships with national and local business organizations, professional services firms and the people of Goldman Sachs.