Citi will provide $385,000 to support NYC's small businesses and entrepreneurs

Citigroup Inc has announced its partnership with the New York City Department of Small Business Services (SBS) to enable New York City's small businesses and entrepreneurs to obtain the technical assistance and financing more easily. 

"Small businesses are the engine that drives our economy and these businesses need a boost during these challenging economic times. Helping New York City's entrepreneurs get started, grow and thrive is a big part of our commitment to strengthening the communities we serve. This initiative is especially significant to Citi as New York City is home to our global headquarters and more than 20,000 of our employees," said Vikram Pandit, CEO of Citigroup.

"We are grateful to have such a supportive and innovative partner in Citi -- not only to help us expand the assistance we offer to help New York's small businesses thrive, but also to enrich and guide our own staff with their expertise," added SBS Commissioner Robert Walsh.

The announcement was made at the Business Solutions Center in Brooklyn.

Citi will assign $385,000 for these purposes.