Goldman Sachs pledges hundreds of millions for loans to small businesses.Good news for cash-starved printing firms. Goldman Sachs says it will make $500 million available to small business owners; $200 million to educate owners at local community colleges, and $300 million in loans and grants. The U.S. Small Business Administration also took action to expand access to fund.

Goldman Sachs' 10,000 Small Businesses initiative seeks to ignite the growth and job-creation potential of 10,000 small businesses across the U.S. The $300 million will be available through a combination of lending and philanthropic support to Community Development Financial Institutions.
The effort could give a boost to printing firms as funding sources to invest in equipment and fund operations have constricted, as lenders have become more selective. 

 

"Plenty of lenders are still extending financing to the printing sector, but borrowers should prepare to submit more documents than a few years ago, and to receive loans with less favorable terms." Rebecca VanderMeulen, GAM contributing editor reports. VanderMeulen is researching an article on printing industry funding sources for GAM's January issue.

 

She says several lenders who work in print say they're choosier now when deciding to extend a loan and taking a hard look at balance sheets and profit margins.