10,000 Small Businesses initiative Expands Nationwide

From the office of U.S. Senator Mary Landrieu

Dear Small Business Advocates,

This week, Goldman Sachs expanded its “10,000 Small Businesses” initiative, to help entrepreneurs create jobs and economic opportunity by providing them with greater access to education, financial capital and business support services.  The program will now be offered to small businesses nationally, enabling small business owners from across the country to participate in the program. Small business owners in all 50 states can now apply to “10,000 Small Businesses,” and accepted small business owners will receive intensive training and advice from business experts and peers.

The “10,000 Small Businesses” program offers qualified business owners the opportunity to create a customized growth plan that includes financial management, people management, negotiations and marketing.

It also provides one-on-one business counseling and a network of support from other small business owners as well as leaders in the business world.

Across the United States, more than 1,600 small business owners have participated in the program.  The education component maintains a 99-percent graduation rate, and just six months after graduation, 63 percent have reported increasing their revenues and 47percent have reported creating net new jobs. 

Previously, the program had been open to businesses in 15 markets across the United States, including New Orleans.

So far, 206 small business owners have participated in the program in New Orleans.  The program has helped 37 small business owners secure $8.5 million in loans through Hope Enterprise Corporation.

The “10,000 Small Businesses” initiative works closely with several, community partners in New Orleans, including Delgado Community College, Hope Enterprise Corporation, The Urban League of Greater New Orleans, The Louisiana Small Business Development Center, The Idea Village and The City of New Orleans.

One of the small business owners who participated in the “10,000 Small Businesses” initiative in New Orleans is Angelica Rivera, the co-owner of Colmex Construction, a family-owned contractor for residential and commercial construction and renovation.  Angelica formed Colmex Construction with her husband in 2008.  In 2011 she joined “10,000 Small Businesses” at Delgado Community College in New Orleans to improve her company’s cash flow and learn ways to pursue capital more effectively.  Since then, Angelica reports that Colmex has added 16 new jobs and increased revenues more than 400 percent.

Click here to learn more about the “10,000 Small Businesses” initiative.

If you have any questions or feedback about this, please contact Ami Sanchez at Ami_Sanchez@sbc.senate.gov on my staff.

Sincerely,

Mary Landrieu