ATLANTA, April 26,
2024 /PRNewswire/ -- Operation HOPE, a national
nonprofit dedicated to fostering entrepreneurship and financial
literacy, proudly announces the extension of a landmark Strategic
Alliance Memorandum (SAM) signing with the U.S. Small Business
Administration (SBA), underscoring a shared commitment to empower
small businesses nationwide. Together, the organizations have set a
goal to create, scale and grow minority-owned businesses.
Operation HOPE's alliance with SBA
underscores a shared commitment to address the critical needs of
small businesses.
Today's historic agreement, formalized during a visit to
Operation HOPE's headquarters by Administrator Isabel Casillas
Guzman and key SBA officials, signifies a significant milestone in
advancing entrepreneurship in America. Against the backdrop of
Atlanta's thriving small business
ecosystem, Administrator Guzman and Operation HOPE's leadership
convened to reaffirm their dedication to supporting entrepreneurs,
particularly in underserved communities. Under terms of the
agreement, both organizations will increase access to SBA's
resource partners, including but not limited to, SCORE, the Small
Business Development Centers (SBDCs), Veterans Business Opportunity
Centers (VBOCs) and the Women's Business Centers (WBCs). The SBA
will also co-sponsor community-based outreach and education events
with Operation HOPE and its initiatives including the 1MBB
initiative.
Administrator Guzman emphasized the importance of a sustained
partnership, stating, "We're experiencing a small business boom
under the Biden-Harris Administration, with more than 17 million
new small business applications filed since the President took
office – and this boom is being fueled by women and people of
color. Through this strategic alliance with Operation HOPE, the SBA
will continue building on this surge of entrepreneurship by working
to level the playing field and ensure every entrepreneur has access
to the resources and support they need to thrive, create jobs, and
grow our economy."
This sentiment echoes Operation HOPE's mission to empower
individuals, families, and communities through financial literacy
and entrepreneurship. By leveraging Operation HOPE's expertise and
nationwide network of clients, the sustained partnership aims to
bolster small businesses, particularly among diverse communities,
such as African American and Hispanic, seeking to build
generational wealth.
"This strategic alliance with the SBA represents a
significant step forward in our collective efforts to empower small
businesses across America," said John Hope
Bryant, Founder, Chairman and CEO, Operation HOPE. "By
working hand in hand with the SBA, we can provide vital resources
and support to entrepreneurs, fostering economic opportunity and
driving community prosperity for all."
One of Operation HOPE's flagship programs, the 1 Million Black
Business Initiative (1MBB), has been at the forefront of growing
Black entrepreneurship in America. With a focus on providing
mentorship, training, and access to capital, 1MBB has demonstrated
a proven impact in catalyzing the growth of Black-owned businesses
across the nation. Since launching in 2020, nearly 400,000 new
Black businesses have been started and engaged through the
program.
A recent highlight of the partnership's impact is "Black
Coffee," a thriving upstart that has benefited from the support of
the SBA and Operation HOPE. "As a Black entrepreneur,
navigating the business landscape can be daunting," said
Marcus Johnson, CEO of Black Coffee.
"The support and resources provided by the SBA and Operation
HOPE have been instrumental in our growth journey. They not only
helped us access capital but also provided invaluable mentorship
and guidance, enabling Black Coffee to expand and create meaningful
connections in our community."
Operation HOPE's alliance with SBA underscores a shared
commitment to address the critical needs of small businesses.
Through Operation HOPE's extensive network and the SBA's expertise
in small business development, the partnership aims to provide
entrepreneurs with access to quality training, counseling, and
financial resources, empowering them to thrive in today's
competitive marketplace.
For more information visit, https://operationhope.org.
About Operation HOPE, Inc.
Since 1992, Operation HOPE
has been moving America from civil rights to "Silver Rights" with
the mission of making free enterprise and capitalism work for the
underserved—disrupting poverty for millions of low and
moderate-income youth and adults across the nation. Through
its award-winning community uplift model, HOPE Inside, which
received the Innovator of the Year recognition by American
Banker magazine, Operation HOPE has served more than 4 million
individuals and directed more than $4
billion in economic activity into disenfranchised
communities—turning check-cashing customers into banking customers,
renters into homeowners, small business dreamers into small
business owners, minimum wage workers into living wage consumers,
and uncertain disaster victims into financially empowered disaster
survivors. Operation HOPE recently received Fast Company's World
Changing Ideas Award for driving entrepreneurship as well as its
tenth consecutive 4-star charity rating for fiscal management and
commitment to transparency and accountability from the prestigious
non-profit evaluator, Charity Navigator. Operation HOPE also
recently launched The 1865 Project, an initiative designed
to help level the economic playing field for underserved Americans.
For more information: OperationHOPE.org. Join the HOPE
conversation on Twitter, Facebook, Instagram and LinkedIn.
Operation HOPE Contacts:
Kevin Boucher
kevin.boucher@operationhope.org
Lalohni Campbell
la@persemediagroup.com
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SOURCE Operation HOPE, Inc.