Goldman Sachs, Bloomberg Philanthropies Invest $10m to Bring Small-Business Program to Baltimore

Originally posted on www.baltimoresun.com. 

Goldman Sachs and Bloomberg Philanthropies are scheduled to announce a $10 million investment Wednesday to launch a training and loan program for small businesses in Baltimore.

The program, called 10,000 Small Businesses, is intended to give small businesses a jolt of energy, new ideas — and maybe a little cash — to jump-start growth and spur hiring.

“This is for the betterment of Baltimore,” Mayor Catherine Pugh said. “To have this kind of investment in our city, I think, bodes well for Baltimore.”

The announcement is to coincide with a graduation ceremony at Center Stage Wednesday for about 60 business owners who participated in two pilot sessions of the program earlier this year. Goldman Sachs CEO Lloyd Blankfein; former New York City Mayor Michael R. Bloomberg, whose charitable giving is managed by Bloomberg Philanthropies, and billionaire businessman Warren E. Buffett, all of whom serve on the program’s advisory council, are expected to attend.

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