Source: Goldman Sachs
Goldman Sachs believes small business owners and start-up entrepreneurs fuel the engine of local and national economies all over the world. We are deeply committed to supporting these business leaders during this uncertain time with clear, tangible steps to access capital and additional resources.
Goldman Sachs has committed to delivering $550 million across two separate initiatives to help small businesses and communities around the world:
Global Small Business Stimulus Package: A $525 million commitment to provide funding and lending to small businesses during this time of stress.
$500 million to provide emergency loans to small businesses across the country. As a start, we have partnered with the City of New York for a $20 million emergency loan facility that will bring flexible capital up to $75,000 to businesses with fewer than 100 employees. We have also anchored the City of Chicago’s $100 million emergency loan facility with $10 million (learn more here). Additional partnerships will span multiple cities and countries.
$25 million in grants to Community Development Financial Institutions (CDFIs) and other mission-driven lenders to ensure they have the necessary capacity to underwrite and deliver loans to small businesses as soon as possible
Goldman Sachs COVID-19 Relief Fund: A $25 million commitment through Goldman Sachs Gives to support healthcare organizations, frontline responders, and the hardest-hit communities. To further encourage giving toward relief efforts, we’ve also established a special matching gift program for our people, up to a total of $5 million.