Goldman Sachs offers loan to employees: report

Financial services entity Goldman Sachs is offering to lend money to over 1,000 employees impacted by the financial crisis, says a media report.

The New York Times has reported that the loans offered by the company could range from "a few thousand dollars to hundreds of thousands".

"Goldman, which accepted billions of taxpayer dollars last fall and, as learned Sunday, was also a big beneficiary of the rescue of the American International Group, is offering to lend money to more than 1,000 employees who have been squeezed by the financial crisis.

"The loans, offered via e-mail last week, could range from a few thousand dollars to hundreds of thousands," the daily said in a report published today.

Pointing out that working at Goldman has long been regarded as a "sure path to riches", the report said, Goldmans employees are losing money on their personal investments. The daily noted that employees are losing money particularly in Goldman's own elite investment funds, which have been considered one of the perks of working at the bank.

"Now these funds have stumbled, and some Goldman employees who financed their gilded lifestyles by borrowing in good times are suddenly short on cash needed to meet commitments to their personal investments in the funds," the report added.