Citi aids New York small businesses.

Last week, Citi CEO Vikram Pandit highlighted Citi's strong commitment to helping small businesses grow and succeed by announcing a new partnership with the New York City Department of Small Business Services (SBS). The goal of the partnership is to help New York City's small businesses and entrepreneurs obtain the technical assistance and financing they need to start, operate and expand.

"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 Pandit.

Citi Community Development, which leads Citi's efforts to achieve economic empowerment and growth for underserved individuals, families and communities, will provide $385,000 in funding to the new partnership. These funds will go toward helping businesses in all five boroughs -- particularly in low- and moderate-income communities -- improve their accounting, apply for loans, and manage their finances.

Also as part of the partnership with SBS, Citi will launch an employee skill-based volunteer initiative to provide mentorship and ongoing consultation between Citibank Small Business bankers or underwriters and NYC Business Solutions financing account managers. Under the new program, Citi will pair several qualified Citibank Small Business bankers with each NYC Business Solutions Center account manager to help them become better teachers of basic finance to business owners seeking instruction.

More information on Citi's support for small businesses through this program is available.