The initiative, which is nationwide, includes a commitment by Goldman to invest $300 million through a combination of philanthropic support and lending, directing the money toward community development of financial institutions to grow capital and technical assistance available to small businesses in underserved communities.
Goldman added that the program will give $200 million to community colleges, universities and other institutions to provide scholarships to small business owners in addition to expanding education capacity.
Finally, small businesses will get technical assistance, advice and professional networking opportunities through partnerships with national and local business organizations
Last week, JP Morgan announced they were adding $4 billion in small businesses loans in a move to show its support for the recovering economy.
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