Operation HOPE and SBA Extend Strategic Alliance to Empower Small Businesses Across America

Operation HOPE and the U.S. Small Business Administration (SBA) have joined forces in a historic partnership to empower small businesses across America. The signing of a landmark Strategic Alliance Memorandum (SAM) solidifies their commitment to fostering entrepreneurship and financial literacy, particularly in underserved communities.

The agreement, formalized during a visit to Operation HOPE’s headquarters by SBA Administrator Isabel Casillas Guzman and key officials, marks a significant milestone in advancing entrepreneurship in the United States. With a focus on creating, scaling, and growing minority-owned businesses, both organizations aim to increase access to SBA’s resource partners, including SCORE, SBDCs, VBOCs, and WBCs.

Administrator Guzman highlighted the importance of the partnership in supporting the surge of entrepreneurship under the Biden-Harris Administration, particularly among women and people of color. By working together, Operation HOPE and the SBA seek to level the playing field and provide entrepreneurs with the resources they need to thrive, create jobs, and contribute to economic growth.

One of Operation HOPE’s flagship programs, the 1 Million Black Business Initiative (1MBB), has already made a significant impact in growing Black entrepreneurship in America. Through mentorship, training, and access to capital, the initiative has helped launch nearly 400,000 new Black-owned businesses since its inception in 2020.

The partnership’s impact is evident in the success of businesses like “Black Coffee,” a thriving enterprise that has benefited from the support of both Operation HOPE and the SBA. CEO Marcus Johnson emphasized the invaluable mentorship and guidance provided by the organizations, which have enabled Black Coffee to expand and create meaningful connections in the community.

Overall, Operation HOPE’s alliance with the SBA underscores a shared commitment to addressing the critical needs of small businesses. By leveraging their expertise and resources, the partnership aims to provide entrepreneurs with access to training, counseling, and financial support, empowering them to succeed in today’s competitive marketplace.

For more information on Operation HOPE and their initiatives, visit their website at https://operationhope.org.