Please join the City Colleges of Chicago for an information session on the 10,000 small businesses program which is a 25 million dollar partnership between Goldman Sachs and local Chicago partners. Email firstname.lastname@example.org to RSVP.
- Friday, June 29th
- Harold Washington College
- 30 E. Lake St.
- Room 102
- 10:30 am - 12:30 pm
Goldman Sachs 10,000 Small Businesses is a $500 million national program designed to help small businesses in the United State create jobs and economic growth by providing entrepreneurs with a practical business education, access to capital and business support services.
City Colleges of Chicago is accepting applications for the September 2012 class. Applications will be considered on a first come, first serve basis. After you have submitted your application, you will receive an email confirming its receipt and information regarding the class.
WHO SHOULD APPLY?
- Applicant must be an owner or co-owner of a business
- Business in operation for at least two years
- Business revenues between $150,000 and $4.0 million in the most recent fiscal year
- Business with a minimum of four employees
History of the 10,000 Small Businesses Program in Chicago - American Jobs Act
On September 13, 2011 Chicago Mayor Rahm Emmanuel announced the 25 million dollar partnership between Goldman Sachs and local Chicago partners as part of President Obama's introduction of the American Jobs Act. According to Mayor Emmanuel, "this partnership between the Goldman Sachs 10,000 Small Businesses initiative and local Chicago partners will provide our small business community essential resources to help us meet these goals."
The initiative, which is already in place in five other cities, is designed" to help local small businesses create jobs and stimulate economic growth by committing $25 million for small business loans, business education and grants for supporting community partners.
Mayor Emanuel and his team Have work with a number of local organizations that will execute the program in Chicago. City Colleges of Chicago will provide classes to the business owners. Other partners involved in the program will include Chicagoland Chamber of Commerce, Chicago Urban League, Women’s Business Development Center, and the IL Hispanic Chamber of Commerce. These partners will recruit scholars of diverse backgrounds and neighborhoods and provide participating business owners with best-in-class technical assistance and clinics.”
Throughout the Chicago area, the 10,000 Small Businesses initiative will offer:
- Business and Management Education: Small business owners will have access to a practical business education developed in partnership with the City Colleges of Chicago, which delivers exceptional learning opportunities and educational services for diverse student populations in Chicago. Small business owners will develop a business growth plan to help them increase revenues and hire new employees. Classes are free to business owners accepted through a competitive application process. Applications are currently available online. Classes will begin in January 2012.
- Access to Capital: Goldman Sachs is committing $20 million of lending capital to Chicago area small businesses. Theloans will be managed and distributed by local, regional and national Community Development Financial Institution (CDFI) loan funds. CDFI loan funds provide loans and technical assistance to businesses that often cannot access traditional sources of capital and are partners in 10,000 Small Businesses nationwide.
- Business Support Services: Business advice, technical assistance and networking will be offered to participating small business owners through partnerships with the community colleges and national and local business organizations, as well as the people of Goldman Sachs. http://www.cityofchicago.org/city/en/depts/mayor/press_room/press_releases/2011/september_2011/mayor_emanuel_announces25millionpartnershipwithgoldmansachs10000.html
About 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is an investment to help small businesses create jobs and economic opportunity by providing greater access to business education, financial capital, and business support services. The program is based on the broadly held view of leading experts that greater access to this combination of education, capital and support services best addresses barriers to growth. 10,000 Small Businesses is funded by Goldman Sachs and The Goldman Sachs Foundation.
Partnering with Goldman Sachs 10,000 Small Businesses program http://www.goldmansachs.com/citizenship/10000-small-businesses/about-the-program-us/partners.html
The Goldman Sachs 10,000 Small Businesses program is delivered through partnerships between local community colleges, business schools, Community Development Financial Institutions and leading nonprofit organizations.
- American Association of Community Colleges
- Association of Community College Trustees
- City Colleges of Chicago (Chicago, IL)
- Cuyahoga Community College (Cleveland, OH)
- Houston Community College (Houston, TX)
- LaGuardia Community College (Long Island City, NY)
- Los Angeles City College (Los Angeles, CA)
- Long Beach Community College District (Long Beach, CA)
- Los Angeles Southwest College (South Los Angeles, CA)
- Delgado Community College (New Orleans, LA)
- Babson College
- Wharton School of the University of Pennsylvania
- Initiative for a Competitive Inner City
- Greater Houston Partnership
- Houston Hispanic Chamber of Commerce
- Houston Minority Supplier Development Council
- National Federation of Independent Business
- National Urban League
- Urban League of Greater New Orleans
- United States Hispanic Chamber of Commerce
- University of Houston Small Business Development Center Network
- Seedco Financial Services, Inc.
- Valley Economic Development Center, Inc.
- Hope Enterprise Corporation (HOPE)