Small Businesses Graduate From Training Program Funded By Bloomberg And Goldman Sachs

By Meredith Cohn
The Baltimore Sun

WWR Article Summary (tl;dr) Goldman Sachs established the “10,000 Small Businesses program” in 2010 to help entrepreneurs create jobs and economic opportunity by giving them education and support, and helping connect them with loans and investment.

The Baltimore Sun

Aaron McNeil had just graduated from the University of Maryland with a degree in vocal performance and gone to work for a bank in Northern Virginia when he had a sweet idea.

“My mom and I decided to test how our cupcakes would do outside of friends and family,” he said. “So we found a place in Federal Hill and decided to take a shot.”

They launched Midnite Confections Cupcakery in October 2010, and the business has since grown by a couple of employees, a food truck in Washington, and a whole lot of flavors.

While McNeil had the training to sing opera, he knew next to nothing about running a business and needed some direction to make his hum. He and 68 other Maryland small business owners now can say they have the tools to succeed thanks to a program called 10,000 Small Businesses that is sponsored by Bloomberg Philanthropies and The Goldman Sachs Group.

The Bloomberg charity and the New York investment bank announced last year that they would invest $10 million to launch the program in Baltimore.

Goldman Sachs established the program in 2010 to help entrepreneurs create jobs and economic opportunity by giving them education and support, and helping connect them with loans and investment.

Since it started, the program has graduated 7,300 small business owners across the country.

Goldman Sachs and Bloomberg Philanthropies are scheduled to announce a $10 million investment Wednesday to launch a training and loan program for small businesses in Baltimore.

The program, called 10,000 Small Businesses, is intended to give small businesses a jolt of energy, new ideas — and maybe…

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