SBA Partners with Operation HOPE to Promote Entrepreneurship in Underserved Communities

The U.S. Small Business Administration (SBA) has joined forces with Operation HOPE to promote the recently signed Strategic Alliance Memorandum (SAM).

SAM aims to encourage the development of entrepreneurial potential within the Black community, with Operation HOPE being the nation’s largest non-profit dedicated to financial empowerment for underserved communities. The alliance will introduce such communities to counseling and education aimed at lowering barriers to business success.

‘Nationally Amplifying’ Business Resources

The efforts of the SBA and Operation HOPE will be focused on access to critical capital and developing relationships up and down the supply chain, as well as generating new revenue streams to scale for success. There will be community-based outreach and education programs, as well as extended access to the SBA’s resources and strategic advantages.

The alliance also intends to ‘nationally amplify’ Operation HOPE’s signature financial literacy campaigns to small business owners.

An American Dream for Everyone

The Founder, Chairman and CEO of Operation HOPE, John Hope Bryant, explained: “Being an entrepreneur is not for the faint of heart. It takes grit, determination, a clear understanding of how money works, and most importantly how to access critical resources. Through this groundbreaking partnership with the SBA, we are on a mission to teach diverse communities how to succeed in business and build sustainable wealth for their families and their communities. Thanks to the leadership of Administrator Guzman, our collective effort will reaffirm that the American Dream is within reach.”

SBA Administrator Guzman added: “Our work together will help advance President Biden’s vision for an economy that works for all Americans and is built from the bottom up and the middle out. Delivering on that means ensuring all of our nation’s entrepreneurs have access to the SBA programs that can help them start, grow and build resilient businesses, and I couldn’t ask for a better ally in this effort than John and the Operation HOPE team.”

SBA Funding Information

Aspiring entrepreneurs can access additional information on SBA funding opportunities via the Funding Programs section on the SBA website.

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