The new Goldman Sachs initiative to support small businesses will enable the Valley Economic Development Center to loan money to qualified businesses in cities such as Burbank, Santa Clarita and Calabasas, which are excluded from the Los Angeles city-wide small business loan program launched last October.

Through the Goldman Sachs initiative called “10,000 Small Businesses” the VEDC will receive $5 million out of a total $20 million in lending capital to support small businesses in the Los Angeles metropolitan area...

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