GOLDMAN SACHS 10,000 SMALL BUSINESSES INITIATIVE

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10KSB LogoPIDC is a proud partner of Goldman Sachs 10,000 Small Businesses in Philadelphia. Goldman Sachs 10,000 Small Businesses is a $500 million initiative designed to help small businesses create jobs and economic growth by providing entrepreneurs with access to capital, a practical business education, and business support services. Applicants must demonstrate a commitment to growing their business and creating jobs within their community.

PIDC’s 10,000 Small Business Loan Fund is generally available to any small business or nonprofit located, or planning to locate in Philadelphia. Applications will be accepted on a rolling basis based on a few criteria:

  • Have at least four employees
  • Have revenues between $150,000 and $4 million
  • Have been in operation for at least two years
  • Are located or plan to locate in the City of Philadelphia
  • Priority given to businesses that are located in a low to moderate income census tract or primarily employ low to moderate income individuals

Funds from the program can be used for :

  • Working capital
  • Machinery and equipment
  • Building improvements
  • Leasehold improvements
  • Real estate acquisition & construction (speculative real estate ventures are not eligible)

Along with providing these funds, PIDC will be hosting several workshops and events for the Goldman Sachs 10,000 Small Business Initiative to provide business support services to clients.

Goldman Sachs 10,000 Small Businesses has also partnered with Community College of Philadelphia to provide entrepreneurs in the greater Philadelphia region with access to practical business courses, financial capital and powerful networking opportunities to help their businesses grow. Through the support of the Goldman Sachs Foundation, business owners selected to participate will receive a scholarship covering the full cost of tuition and program materials.

In addition to financing, 10,000 Small Businesses also has an educational component for small business owners.  Goldman Sachs 10,000 Small Businesses at Community College of Philadelphia is a practical business education program that gives entrepreneurs valuable skills for growing their businesses, the opportunity to access financial capital, powerful networking opportunities and more, at absolutely no cost to participants.

The March 13th deadline to apply for the educational program offered at Community College of Philadelphia is quickly approaching. Classes for the program will begin May 31, 2013 and include 100 hours of instruction in addition to evening sessions such as networking events, legal and financial clinics and other business assistance activities.  Applications for the education component of the program are being accepted until the March 13th deadline and can be downloaded at www.ccp.edu/10KSB. Please act fast to be considered for this valuable opportunity.

To learn more on how PIDC can assist your small business to grow in Philadelphia through the 10,000 Small Businesses Initiative, please contact Chamor Hollinger at 215-496-8157 or chollinger@pidc-pa.org.

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