The advisory board that will oversee the initiative includes billionaire investor Warren Buffett, Goldman's largest shareholder.
The initiative, termed "10,000 Small Businesses," is aimed at tapping the growth and job creation potential of 10,000 small businesses across the United States. The program plans to provide $200 million for investor education and $50 million in grants to support community-development financial institutions. The remaining $250 million will be used to help finance small businesses, Goldman said.
Goldman's move comes at a time when it has been criticized for its role in the credit crisis. CEO Lloyd Blankfein, at a conference in New York, said, "We participated in things that were clearly wrong and have reason to regret. We apologize."Goldman said the first loans under the program will be made in early 2010.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV