October 2014 Newsletter: Partner Happenings: "Goldman Sachs 10,000 Small Businesses in Southeast Michigan"

Goldman Sachs 10,000 Small Businesses is a $500 million investment to help entrepreneurs create jobs and economic opportunity by providing them with greater access to education, financial capital and business support services. The program currently operates in 17 markets in the U.S. through a network of more than 90 academic and community partners and the program continues to expand on a city-by-city basis.­­­­­­

Education for Business Growth

Designed by Babson College, the nation’s top-ranked entrepreneurship school, the curriculum focuses on practical business skills that can immediately be applied by business owners, including negotiation, marketing and employee management.

Access to Capital

Small business owners learn how to become more bankable and position their businesses to access financing and capital. Through partnerships with local, regional and national Community Development Financial Institutions [CDFI’s] and other mission-driven small business lenders “Capital Partners”, loans are available to qualifying small businesses that lack access to affordable capital or may not qualify for traditional sources of credit. Loan applications are accepted on an ongoing basis, independent of acceptance into the business and management education program. Learn more

A Network of Support

Participants will receive one-on-one business advising and the opportunity to learn from other like-minded business owners. The program provides this expert advice and technical assistance through partnerships with national and local business organizations, professional services firms and the people of Goldman Sachs.

Goldman Sachs 10,000 Small Businesses is designed for business owners who have a business poised for growth, seeking applicants who are passionate about growing their business, creating jobs in their communities and who generally meet these criteria:

• Owner or co-owner of a business
• Business in operation for at least two years
• Business revenues of more than $100,000 in the most recent fiscal year
• Business with a minimum of two employees (including the owner)

To get the most out of the program, business owners are asked to invest their time to engage in the following:

• Attend a program orientation
• Complete 11 convenient learning sessions
• Participate in out-of-class activities, including completing assignments, attending networking events and business support clinics (approx. 6 – 8 hours per week)
• Create a growth plan over the course of the program

Applications are always accepted, through the deadline for the upcoming class in Southeast Michigan is November 11. For more information, visit 10ksbdetroit.com.