Detroit Small Businesses To Get More Loan Access

By: AP
By: AP

DETROIT (AP) -- Small businesses in Detroit are expected to get additional access to loans as part of an effort involving Goldman Sachs.

A partnership being announced Tuesday by Michigan Gov. Rick Snyder, Detroit Mayor Dave Bing and Goldman Sachs CEO Lloyd Blankfein will bring the Goldman Sachs 10,000 Small Businesses initiative to Detroit. The aim to help create jobs and boost economic growth.

Billionaire investor Warren Buffett is expected to be part of the announcement.

Goldman Sachs' overall $500 million program is active in urban areas across the U.S., including New York, Los Angeles and Chicago, as well as parts of several states.

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