Goldman Sachs and Warren Buffet are teaming up to invest $500 million in Small Business Owners. They plan to provide thousands of small business owners across America with college scholarships and boost their access to capital.

Goldman Sachs philanthropic effort is being called "10,000 Small Businesses". It will include a $200 million contribution to community colleges, universities and other institutions. The $200 million will then be given as grants to small business owners to further their education. The other $300 million will be given out through loans and charitable giving.

The focus of the grant, loan and charitable giving will be focused on small businesses in underserved communities.