$25 Million in Grants Offered by Goldman Sachs to Chicago Small Businesses in 2016

In 2011, the Mayor of Chicago unleashed an education grant program for small businesses in Chicago. This year, the city of Chicago, in collaboration with Goldman Sachs 10,000 Small Businesses and the City Colleges of Chicago, has $25 million to invest in the program.

How it works

The grant covers a 15-week program, with over 100 plus hours of curriculum, including negotiation, marketing, and employee management. The program is designed to help small businesses grow their business, increase their revenues, and create more jobs in the community. The program is called "Goldman Sachs 10,000 Small Businesses."

According to Goldman Sachs, 50 percent of 10,000 Small Businesses alumni reported creating new jobs within 6 months, and 72 percent of 10,000 Small Businesses alumni reported an increase in revenues within 6 months. Those accepted into the program gain access to a world-class business education and connections to a professional support network -- all for free.

How to qualify

Small businesses who qualify must have been in business for at least two or more years and must be the majority owner of the business. The business must also have four full-time staff members, including the owner, and revenue of $150,000 to $6-8 million or above.

Classes generally begin in January, with application deadlines due in October.

Read more at hpherald.com/2016/09/28/goldman-sachs-offers-small-business-grants/