Warren Buffett will be one of three co-chairmen for a just-announced $500 million Goldman Sachs initiative to help small businesses around the United States.
A Goldman news release tonight (Tuesday) says the initiative will "unlock the growth and job-creation potential of 10,000 small businesses" by providing them with "greater access to business education, mentors and networks, and financial capital."
Buffett provided Goldman with a $5 billion loan and words of praise last fall at the height of the credit crisis. (The arrangement has proven to be very profitable for him so far.)