Monday, June 13, 2011

Congrats to the N.O. Small Business Initiative Graduates

Warren Buffett embraces Kendall Washington, 
the valedictorian of Monday's graduating class.
Last week New Orleans saw its first class of graduates from their 10,000 Small Business Initiative.

30 small business owners from New Orleans completed the Goldman Sachs sponsored program that offered training in management, marketing and accounting designed by Wall Street executives. 

Goldman Sachs has pledged $20 million in loans to New Orleans area small businesses as part of a nationwide effort to distribute $500 million to companies struggling because of the recession and housing crisis.

The program targets small firms operating in "economically underserved areas" that are having difficulty gaining access to capital through traditional means and those that need non-monetary assistance, such as business management classes, to grow.

The program included over 100 hours of training, one-on-one mentoring, accounting workshops and pro bono legal advice from Goldman Sachs professionals.

Local graduates represent a wide range of industries, including construction, pest control, retail stores, medical services, event planning, equipment rental, courier services and valet parking businesses and more.

10,000 Small Businesses  is an initiative to unlock the growth and job creation potential of 10,000 small businesses across the United States through greater access to business education, financial capital, and business support services. The program operates through a national network of public and private partner organizations including community colleges, business schools and Community Development Financial Institutions. The initiative is currently active in New Orleans, New York, Long Beach, Los Angeles and Houston, and will continue to expand to communities across the country. Community partners in New Orleans include the City of New Orleans, Delgado Community College, HOPE (Hope Enterprise Corporation and Hope Credit Union) and the Urban League of Greater New Orleans.

Source: http://www.nola.com/business/index.ssf/2011/06/warren_buffett_encourages_grad.html

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