Washington, Sept. 14, 2022 (GLOBE NEWSWIRE) — Today, Administrator Isabella Casillas Guzmanhead of the U.S. Small Business Administration (SBA) and spokesperson for America’s 33 million small businesses in President Biden’s cabinet, joined John Hope Bryant, Founder, President and CEO of Operation HOPE Inc., the nation’s largest nonprofit organization dedicated to financially empowering underserved communities, in Los Angeles to mark the implementation of a recently signed Memorandum of Strategic Alliance (SAM) aimed at promoting the development of potential entrepreneurship within the black community.
“Partnering with Operation HOPE is an important step as our SBA team strives to reach and uplift more entrepreneurs in communities across America,” said Administrator Guzman. “Our work together will help advance President Biden’s vision of an economy that works for all Americans and is built from the bottom up and in the middle. Achieving this requires ensuring that all entrepreneurs in our country have access to SBA programs that can help them start, grow and build resilient businesses, and I couldn’t ask for a better ally in that effort than John and the Operation HOPE team.
To highlight the importance of the new alliance, the two organizations and their local allies participated in today’s event in Los Angeles, hosted by the Vermont Slauson Economic Development Corporation (VSEDC), an organization that facilitates development community to revitalize the physical, economic and social lives of residents of South Los Angeles and beyond. As with the agreement itself, the event was intended to raise awareness of SBA resources and Operation HOPE programs that aspiring and existing Black entrepreneurs in diverse communities could benefit from so they can establish themselves, grow and evolve.
“Being an entrepreneur is not for the faint of heart. It takes courage, determination, a clear understanding of how money works, and most importantly, how to access critical resources,” CEO Bryant said. this groundbreaking partnership with the SBA, we are on a mission to teach diverse communities how to succeed in business and create lasting wealth for their families and communities.Through the leadership of Administrator Guzman, our collective effort will reaffirm that the American Dream is close at hand.
About the SBA-Operation HOPE Alliance
Announced on the heels of Black Business Month, this new strategic alliance will help introduce small business owners in historically underserved and underresourced communities to guidance and learnings aimed at reducing barriers to accessing critical capital, developing relationships up and down the supply chain and generate new revenue streams at scale to succeed.
Through this joint effort, Black small business owners will have access to a series of workshops, conferences, seminars, and other activities to discuss SBA financing, government contracting opportunities, and other relevant topics. . Highlights include:
- Focus on community outreach and education, supporting Operation HOPE’s free coaching services, credit counseling, small business, and homeownership education programs, among others.
- Nationally scaling Operation HOPE’s signature financial education campaigns for small business owners, such as the 1 Million Black Business Initiative (1MBB) and Financial Education for All (FL4A), adopted by more than 50 Fortune 500 companies and global institutions.
As part of the execution of the agreement, the SBA’s Office of Field Operations, in particular, will provide strong support to small business owners in key cities. Some of the targeted cities include, but are not limited to: Atlanta, Georgia; Columbia, South Carolina; Detroit, Michigan; Los Angeles, California; Memphis, TN; Miami, Florida; Minneapolis, Minnesota; Murfreesboro, TN; New York, New York; Pensacola, Florida; Philadelphia, Pennsylvania; Raleigh, North Carolina; Tampa, Florida; washington d.c.
The SBA remains committed to increasing capital for small businesses, including those in underserved communities. This means ensuring that contractors have access to capital, standard and disaster loan programs, PPP straightforward forgiveness, and help to increase their income by putting their products online or in global markets and accessing contracting opportunities.
For more information on SBA funding opportunities, please visit www.sba.gov/funding-programs.
About the United States Small Business Administration
The United States Small Business Administration helps fuel the American dream of business ownership. As the single, go-to resource and voice for small businesses backed by the strength of the federal government, the SBA gives entrepreneurs and small business owners the resources and support they need to start, grow, or grow their business, or recover from a declared crisis. disaster. It provides services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
About Operation HOPE, Inc.
Since 1992, Operation HOPE has moved America from civil rights to ‘silver rights’ with a mission to make free enterprise and capitalism work for the underserved, disrupting poverty for millions of young and old. low- and middle-income adults across the country. Through its community improvement model, HOPE Inside, which received American Banker magazine’s 2016 Innovator of the Year recognition, Operation HOPE has served more than 4 million people and led more than 3 $.2 billion in economic activity to disenfranchised communities, turning customers into check cashers. into bank customers, tenants into landlords, small business dreamers into small business owners, minimum wage workers into living wage consumers, and victims of uncertain disasters into financially self-sufficient survivors. Project 5117 is HOPE’s unique approach to addressing economic inequality that aims to improve financial literacy, increase business models and work placements for youth in underserved communities, and stabilize the American Dream by increasing FICO scores. Operation HOPE recently received its eighth consecutive 4-Star Charitable Rating for Budget Management and Commitment to Transparency and Accountability by prestigious nonprofit reviewer, Charity Navigator. For more information: OperationHOPE.org. Join the conversation on social media at @operationhope.
Press Office United States Small Business Administration [email protected]