Hope Enterprise Corporation, with a commitment from Goldman Sachs 10,000 Small Businesses of up to $130 million, has partnered with seven cities, and nine historically Black colleges and universities (HBCUs) to launch the Deep South Economic Mobility Collaborative (DSEMC). Formed to stabilize and strengthen businesses and communities devastated by the economic crisis, DSEMC is an innovative collaborative that invests in the power of small businesses and entrepreneurs in the Deep South, particularly those from underserved and under-resourced communities.
DSEMC taps the expertise and capabilities of Hope Enterprise Corporation, Goldman Sachs 10,000 Small Businesses, institutions of higher learning and cities in a unique way to provide access to financing, business education classes, and business support services, leveraging support from the private, public and nonprofit sectors. This comprehensive support focuses on stabilizing and strengthening small businesses, and bolstering employment in a region characterized by deep, entrenched poverty and racial disparities.