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  "documentTitle": "2022 strategic update presentation",
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  "notes": "The slide provides a narrative summary of social impact initiatives, specifically focusing on CDFI lending and the 10KSB education program.",
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      "text": "Since 2010, the Firm has provided nearly $2 billion of loan capital to CDFIs to support small businesses, disaster relief, foreclosure prevention, community healthcare, access to healthy food, access to capital and education.",
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      "text": "Capital deployed: $2 billion",
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      "text": "UIG and 10KSB partner to provide a combination of loan and grant capital that CDFIs can deploy to fill lending gaps in underserved communities for businesses that are unable to access traditional forms of financing.",
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      "text": "In December 2020, having met its initial goal of serving 10,000 small business owners through the education program, Goldman Sachs committed another $250 million to support an additional 10,000 small business owners. In September 2023, the firm announced a $100 million investment to expand the program to rural communities across America.78",
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      "text": "As of September 8, 2023, over 14,000 small business owners have graduated from the 10KSB education program, which serves businesses across all 50 states, Puerto Rico and Washington, D.C. Approximately 65% of graduates reported less than $1 million in gross annual revenues; of these graduates, 66% reported less than $500,000 in gross annual revenues.",
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      "text": "Since 2010, the Firm has provided nearly $2 billion of loan capital to CDFIs to support small businesses, disaster relief, foreclosure prevention, community healthcare, access to healthy food, access to capital and education. Leveraging prior emergency response experience, Goldman Sachs combined participation in the Paycheck Protection Program (\"PPP\") and other emergency loans with capacity building grants to CDFIs and other grassroots organizations to successfully distribute enormous relief funds rapidly.",
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      "text": "The Goldman Sachs Foundation funds business owner training designed by Babson College through a network of local community colleges (e.g., LaGuardia Community College and Salt Lake City Community College) and educational institutions providing faculty training and technical assistance to build capacity in our partners (e.g., Morgan State University, a",
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      "text": "Launched in 2009 with an initial $500 million commitment, 10,000 Small Businesses is focused on helping small businesses grow and create jobs by providing them with access to business education, capital and business support services. The initiative has two flagship components: the education program, which provides tuition-free, practical business education to small business owners, and the access to capital program, which provides lending and philanthropic support to nonprofit CDFI loan funds and other mission-driven community-based lenders. The pairing of capital with grants for capacity building and loan loss reserves has been critical for these mission-driven lenders to scale lending to reach more businesses.",
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      "text": "Of the $2 billion in capital to CDFIs, we estimate that $1.4 billion in Paycheck Protection Program and other emergency loans reached 137,000 small businesses employees during the pandemic. The median small business borrower had just one employee, indicating that capital reached the smallest businesses and sole proprietors.",
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      "text": "78 The $100 million investment includes $75 million of new lending capital to CDFIs to provide end loans to small businesses and $25 million is part of the $250 million commitment announced in December 2020.",
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      "text": "Community Engagement in Action: Partnering with CDFIs",
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      "text": "10,000 Small Businesses (\"10KSB\")",
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