22 NOV 2010

10,000 Small Businesses Initiative Expands to New Orleans

NOVEMBER 22, 2010 - The Honorable Mitchell Landrieu, Mayor of New Orleans, announces that the city has been selected to join the Goldman Sachs 10,000 Small Businesses initiative. 

Present with him for the announcement are: Dina Powell, Global Head of Goldman Sachs' Office of Corporate Engagement, Councilman Arnie Fielkow, Mayor Mitch Landrieu, Nolan Rollins, President and CEO of the Urban League of Greater New Orleans and Bill Bynum, CEO of HOPE

Goldman Sachs 10,000 Small Businesses is proud to announce that New Orleans will be the next city to participate in the initiative to bring education, capital and networking opportunities to U.S. small business owners.

The partnership between the City and Goldman Sachs will create jobs and stimulate economic growth by committing $20 million in capital for small business loans and supporting results-oriented business education for participating small business owners.

Local program partners will include Delgado Community CollegeHope Enterprise Corporation (HOPE) and the Urban League of Greater New Orleans.  

Throughout the Greater New Orleans area, the 10,000 Small Businesses initiative will offer selected businesses:

  • Business and Management Education: Small business owners will have access to a practical business education developed in partnership with leading national business schools and delivered by Delgado Community College (DCC), the oldest and largest community college in Louisiana. As part of the program, small business owners will develop a business growth plan to help them increase their revenues and hire new employees. The education is free to accepted business owners who are selected through a competitive application process.

  • Access to Capital: Goldman Sachs is committing $20 million of lending capital to the region through community development financial institutions (CDFIs) and similar institutions. HOPE, one of the nation’s leading CDFIs, is the first to participate in the Greater New Orleans area. HOPE also will receive a grant to expand its capacity to deliver enhanced technical assistance to small businesses.

  • Business Support Services: Business advice, technical assistance and networking will be offered to participating small business owners through partnerships with community colleges and national and local business organizations, as well as the people of Goldman Sachs. The Urban League of Greater New Orleans will sponsor new business workshops and training, coordinated with DCC, on government contract and bidding. 

Press Release: 10,000 Small Businesses Announces New Orleans Program Launch