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Rahm, Goldman Sachs Team Up to Help Small Biz

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Sept. 13, 2011: Goldman Sachs is adding $25 million in loans to Chicago's small businesses. It?s part of a program to provide funding, training and support services to entrepreneurs.

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The small business community is - for the most part - pleased with Chicago’s new Mayor Rahm Emanuel.

Now there’s another reason to keep the positive mood alive. Goldman Sachs is adding $25 million in loans to Chicago's small businesses. It’s part of a program to provide funding, training and support services to entrepreneurs.

Goldman launched its 10,000 Small Businesses initiative in 2009 and pledged $500 million.

"There is nothing more important for the future of Chicago’s economy than our small business community,” Emanuel said Tuesday in a statement. “I am committed to Chicago being the best place in America to start a business, create good jobs, and raise a family.”

The program, which begins in January 2012, will offer free courses to entrepreneurs that are selected from the application process. It’s running in Houston, Los Angeles, New York, New Orleans and Long Beach, Calif.

Chicago business owners can apply here through the City Colleges of Chicago website, which is partnering with Goldman Sachs for the initiative's educational component.

It should hit a high note with businesses not able to get capital from traditional sources.

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