Our Michigan Footprint
Our impact in Michigan starts with direct engagement in local communities.
In 2020 Goldman Sachs committed $15 million in loans to Detroit small businesses through its 10,000 Small Businesses to assist them during the COVID-19 pandemic. The forgivable loans, made in partnership with Community Reinvestment Fund, can be used for payroll costs, interest on mortgages, and rent and utilities. This commitment builds on Goldman Sachs’ 10,000 Small Businesses initiative’s support of Detroit’s small businesses. To date, 550 business owners in Detroit have graduated from the program. Read More
In 2019, JPMorgan announced its commitment to invest $200 million in Detroit’s economic recovery by the end of 2022. The new data-driven investment builds on the initial progress that helped boost the city’s recovery through the creation of sustainable loan programs for small businesses like the Entrepreneurs of Color Fund and increased access to affordable housing and job training. Read More