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Unemployment and job creation via small business assistance is now the Obama administration’s top priority in the public arena and has been a concern for more than a year. Realizing this last November, the CEO of Goldman Sachs, Lloyd Blankfein, chose small business support as the topic for a public relations move to counter the populace outrage over bankers being focused mostly on Goldman Sachs and AIG. He issued a statement that some in the press called a mea culpa, and paired it with a $500 Million gesture to the community called the “10,000 Small Business Initiative”. The plan was to give $300 Million in aid to small business as loans or grants, and $200 Million was to go to educational centers to help teach about “Business and Management Education”.
Whatever became of the “10,000 small business initiative”? Being located near both the old and new Goldman Sachs headquarters, BatteryPark.TV (BPTV) decided to investigate. Were the funds distributed properly, or at all? Have any small businesses received loans to date? BPTV spoke to Fox Business about this story.