Goldman Sachs Launches Investment Program for Small Business Entrepreneurs in Alabama
In a significant boost for Alabama’s rural entrepreneurs, Goldman Sachs has launched the “Investment in Rural Communities” program. This initiative, introduced last September, aims to support 30 small business owners in Alabama by providing vital business education and access to capital. The program is designed to help entrepreneurs either launch or grow their ventures, equipping them with essential tools for success.
Participants in the program will receive business education classes at no cost, offered through a partnership with Jefferson State Community College. Additionally, through a collaboration with Hope Enterprise Corporation/Hope Credit Union, Goldman Sachs will invest $20 million in small businesses across the rural South. Of this amount, $3 million will be specifically dedicated to providing small business loans in Alabama through community development financial institutions (CDFIs). For more on this initiative, visit CBS 42.
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Senator Katie Britt (R-AL) and Representative Terri Sewell (D-AL) spoke at a press conference, emphasizing the program’s potential to strengthen both businesses and communities. With Alabama being the fifth state to join this initiative, it marks an important step in promoting economic resilience in rural areas.
