LOS ANGELES – Mayor Villaraigosa announced that Los Angeles would join The Goldman Sachs Group, Inc. 10,000 Small Businesses Initiative. The initiative will drive economic growth and create jobs by providing $20 million in small business loans and by subsidizing business education.

“I am proud of the Mayor’s Office of Economic and Business Policy’s work in bringing Goldman Sachs’ 10,000 Small Business Initiative to Los Angeles, since our number one priority is getting the people of Los Angeles back to work,” Mayor Villaraigosa said. “Not only will this investment set in motion job creation at the most grassroots level, but it will have a real impact on the lives of the 70% of Angelenos that are employed by small businesses by granting them the
opportunity to expand their entrepreneurial enterprise through education, loans, and networking.”