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Small Business Financing Initiative

  • Expanding the capacity for small business financing

  • through training and technical assistance.

Overview of the Goldman Sachs 10,000 Small Businesses Financing Initiative

Small businesses drive the U.S. economy and generate quality jobs in communities across the country.  Increasing lending to small businesses presents an important and attractive opportunity for CDFIs and other mission-driven lenders to make a significant impact in their communities.

OFN and Goldman Sachs have committed to helping small business lenders grow to better serve small businesses by launching the Goldman Sachs 10,000 Small Businesses Financing Initiative. This three-year program provides national training opportunities for CDFIs and other community lenders to scale lending to small businesses in underserved communities. Components include:

Small Business Finance Collaborative

Following the 2014 National Workshops, 20 participants will be chosen through a competitive process to receive intensive technical assistance and participate in peer-learning opportunities over two years to implement ambitious and customized growth plans. Finance Collaborative activities will commence in January 2015.

Industry Webinars

Best practices in small business lending will be showcased through a series of webinars beginning in 2015. Webinars will be recorded to provide an on-demand library of resources to benefit all small business lenders across the country.

SMALL BUSINESS LEADER AWARD FOR MISSION-DRIVEN LENDERS 

The Small Business Leader Award for Mission-Driven Lenders, the first-ever award to recognize innovation and growth in mission-driven small business lenders, launched in 2014. The award will continue in 2015 and 2016. Please check back for more information or email us to be added to the notification list for information about the 2015 Award process.

National Workshops

OFN offered three, free, two-day workshops in July and August 2014 designed to help small business lenders identify and pursue growth opportunities. These workshops helped 115 participants from 85 mission-driven lenders to:

  • Define growth strategies for their organization
  • Overcome barriers and challenges to growth
  • Identify opportunities to propel growth

All three workshops (Chicago, Los Angeles, or New York) were oversubscribed. View more information about the training curriculum. Direct questions to: 10ksb@ofn.org.

National Small Business Lending Workshops

In July and August 2014, OFN offered three, free, two-day workshops designed to help small business lenders identify and pursue growth opportunities. These workshops were designed to help mission-driven small business lenders:

  • Define growth strategies for their organization
  • Overcome barriers and challenges to growth
  • Identify opportunities to propel growth

The workshops built on OFN’s work with small business lenders, and leveraged content from the innovative Goldman Sachs 10,000 Small Businesses program for entrepreneurs delivered by Babson College. The workshops were attended by 115 participants from 85 mission-driven lenders from across the country.  

View more information about the training curriculum. Direct questions to: 10ksb@ofn.org.

 

Curriculum Overview

The workshop curriculum combined innovative approaches to marketing, culture, technology, operations, and leadership with elements of the Goldman Sachs 10,000 Small Businesses program for entrepreneurs adapted for small business lenders.

Workshop participants explored topics such as:

  • Small Business Lending Landscape
  • Value Proposition
  • Culture of Growth and Performance
  • Innovation
  • Customer Acquisition
  • Lending Life Cycle
  • Technology
  • Talent Management

The workshop format was highly interactive, and included discussions with entrepreneurs who graduated from the Goldman Sachs 10,000 Small Businesses training.

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