Goldman Sachs will give $300 million to community development financial institutions (CDFIs) to spur expansion of small-businesses. The program, “10,000 Small Businesses,”will also provide mentoring, business management education, growth capital and technical assistance to small businesses.
Seedco Financial Services in New York will be the first CDFI to receive funds from Goldman Sachs.
Warren Buffet, CEO of Berksire Hathaway and Goldman’s largest investor, will serve on the advisory board of 10,000 Small Businesses.
(Image by Ngoc Nhan via Flickr CC 3.0)
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