LITTLE ROCK, Ark. – Goldman Sachs is investing in the growth of small businesses in Arkansas as part of a new $100 million initiative.
Goldman Sachs 10,000 Small Businesses announced that it has expanded its $100 million Investment in Rural Communities initiative to Arkansas. The expansion will include $20 million to foster job creation and economic growth across the region.
“We are thrilled to expand our 10,000 Small Businesses program by partnering with the University of Arkansas – Pulaski Technical College and Hope Enterprise Corporation,” said Goldman Sachs Chairman and CEO David Solomon. “Through our work together, we can provide rural entrepreneurs with the resources, education and access to capital they need to create jobs and grow the economy.”
Goldman Sachs is also partnering with Hope Enterprise Corporation to provide loans for small businesses, funding for the 10,000 Small Businesses education program at local community colleges and access to capital through grants.
“Access to capital is a top priority for small business owners across the country,” Hope Enterprise Corporation CEO Bill Bynum said. “We look forward to our continued partnership with Goldman Sachs to provide the financial stability that growing businesses need to thrive – in Arkansas, and other under resourced rural communities across the South.”
The expansion was launched during an event at the William J. Clinton Library and Museum alongside U.S. Senators John Boozman and Tom Cotton, Goldman Sachs Chairman and CEO David Solomon and small business owners in the state.
“I started a small business with my brother many years ago in Arkansas, and I recognize the challenges these entrepreneurs face in regard to workforce and access to capital and other resources,” Boozman said. “Small businesses are the engines of Arkansas’s economy and I appreciate the training and resources that Goldman Sachs 10,000 Small Businesses has committed to provide support for our rural small business community.”
The initiative was first launched in North Dakota before expanding to Arkansas and officials said it has plans to expand to small business owners in 20 states in the next five years.
For more information on Goldman Sachs 10,000 Small Businesses, visit GoldmanSachs.com.