Goldman Sachs announces small business initiative for Dallas-Fort Worth

Dallas Mayor Mike Rawlings, Fort Worth Mayor Betsy Price and Dina Powell, president of the Goldman Sachs Foundation, announced a $20 million partnership to bring the Goldman Sachs 10,000 Small Businesses initiative to Dallas Fort Worth to help create jobs and economic growth.

Dr. Joe May, chancellor of the Dallas County Community College District, Margaret Spellings, president of the George W. Bush Presidential Center and former U.S. Secretary of Education, and Javier Palomarez, president and CEO of the U.S. Hispanic Chamber of Commerce, were also present at the announcement at Dallas City Hall. Goldman Sachs 10,000 Small Businesses is a $500 million program aimed at providing greater access to business education, financial capital and business support services to 10,000 small businesses across the country. 

The Goldman Sachs 10,000 Small Businesses initiative will offer: • Business and Management Education: Small business owners will have access to a practical business education where they will develop a business growth plan to help them increase revenues and hire new employees. The education program will be delivered in partnership with Dallas County Community College District’s El Centro College at the Bill J. Priest Institute for Economic Development. • Access to Capital: Goldman Sachs is committing lending capital to support the small businesses community in the Metroplex area. Goldman Sachs intends to provide funding to two intermediaries – Accion Texas, Inc. and PeopleFund – which will use the funds to make loans to small business owners in the area. • Business Support Services: Business advice, technical assistance and networking will be offered to participating small business owners through partnerships with community-based partners and national business organizations, as well as the people of Goldman Sachs.

“Small business is the backbone of the American industry. These businesses generate jobs, expand our economic base and foster healthy entrepreneurship,” said Fort Worth Mayor Betsy Price. “The Goldman Sachs 10,000 Small Businesses initiative will be a game-changer for small businesses in Fort Worth and across North Texas. The program will help our current small businesses continue to grow, attract new businesses to our vibrant economy and create even more jobs for our citizens.”