Goldman Sachs Bets Entrepreneurship Will Help Detroit Bounce Back

The abandoned Packard car plant in Detroit in 2010 Photograph by Carlos Osorio/AP Photo

In 2009, during the dark days following the financial crisis, Goldman Sachs pledged $500 million to the nation’s struggling small businesses. (It was also a time when the investment bank’s reputation was at a nadir.) The idea: Goldman would spend $300 million to fund lenders focusing on economic development in low-income neighborhoods and $200 million for entrepreneurship education.

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