Goldman Sachs 10,000 Small Businesses Community College Sites
- LaGuardia Community College, New York, NY
- Los Angeles City College, Los Angeles, CA
- Long Beach Community College District, Long Beach, CA
- Delgado Community College, New Orleans, LA
- Houston Community College, Houston, TX
- City Colleges of Chicago, Chicago, IL
- Cuyahoga Community College, Cleveland, OH
- Salt Lake Community College, Salt Lake City, UT
- Community College of Philadelphia, Philadelphia, PA
Goldman Sachs 10,000 Small Businesses is a $500 million investment to help small businesses create jobs and economic opportunity by providing them with greater access to business education, financial capital, and business support services. The program is based on the broadly held view of leading experts that greater access to this combination of education, capital, and support services best addresses barriers to growth. 10,000 Small Businesses is funded by Goldman Sachs and The Goldman Sachs Foundation.
The program is currently operating at community colleges in Chicago, Houston, Long Beach, Los Angeles, New Orleans, Cleveland, Salt Lake City, New York City, and Philadelphia, and will continue to expand on a city-by-city basis, as determined by the Goldman Sachs 10,000 Small Businesses program.
AACC received a grant from The Goldman Sachs Foundation to develop tools to support 10,000 Small Businesses program delivery across all participating community colleges and to leverage the program’s work within AACC's community college network and beyond.
Goldman Sachs 10,000 Small Businesses is designed for business owners with limited resources who have a business poised for growth. Applicants must demonstrate a commitment to growing their business and creating jobs within their community. Applicants should be an owner or co-owner of a business in operation for at least two years, with revenues between $150,000 and $4.0 million in the most recent fiscal year, and with at least 4 employees (including the owner) and no more than 100.
How the Program Works
The program has three main components:
- Practical Business and Management Education. Goldman Sachs 10,000 Small Businesses is contributing $200 million to program partners, including local community colleges that deliver the program and to business schools, which work closely with the colleges to expand their capacity to educate small business owners by training faculty and sharing best practices. Funds go toward scholarships for the small businesses owners in the program and faculty training and technical assistance. Small business owners 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.
How Small Business Owners Can Apply
Learn more about the program and how small business owners in participating cities can apply by visiting the community college links above.