11 FEB 2011

10,000 Small Businesses Initiative Launches in Houston

Houston, Texas has been selected as the next US city to join the Goldman Sachs 10,000 Small Businesses initiative.

The initiative aims to help local small businesses grow and create jobs, and comes with a $20 million commitment to provide loans to help local small businesses and $5 million in program and capacity-building grants to local partner organizations. Additional grants will be provided to subsidize business education for current small business owners.

The program will be managed by a number of local organizations. Houston Community College (HCC) will provide business basics at the classroom level and the Greater Houston Partnership (GHP) will help facilitate access to lending within the community. The University of Houston Small Business Development Center Network will provide technical assistance to small business owners applying for loans and will be the key organization to package the financial assistance.

The Houston Hispanic Chamber of Commerce (HHCC) and Houston Minority Supplier Development Council (HMSDC) will host clinics focusing on the most pressing economic development issues for local small businesses.

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