Los Angeles partners with Operation Hope to support black-owned businesses with $1.2M funding

In the heart of Los Angeles City Hall, a moment of celebration unfolded as Councilwoman Hood welcomed John Hope Bryant, the founder and CEO of Operation Hope, to the Council Chambers. The atmosphere buzzed with anticipation as Bryant shared the impactful journey of his organization, which has dedicated over three decades to empowering Angelenos through financial literacy and entrepreneurship.

Operation Hope, a nonprofit that has become the largest financial literacy coaching organization in the United States, aims to bridge the gap to financial freedom for underserved communities. With a mission to promote economic equity, the organization provides essential resources such as financial education, one-on-one coaching, and pathways to homeownership and business ownership. Bryant emphasized that economic security should not be a solitary struggle but a collective effort supported by knowledge and community resources.

In a significant announcement during the meeting, Councilwoman Hood revealed a partnership between Council District 10 and Operation Hope, pledging $1.2 million in scholarship grants aimed at supporting small businesses, particularly those owned by Black and Brown entrepreneurs. This initiative, part of the broader 100,000 Black Businesses program, will offer comprehensive assistance, including mentorship and training, to help these businesses thrive in a competitive landscape.

Bryant, reflecting on his own journey from the streets of South Central Los Angeles to leading a national organization, expressed gratitude for the support he received from mentors like former Mayor Tom Bradley. He highlighted the importance of believing in the potential of individuals and communities, stating, “We can be the change we want to see in the world.”

The meeting also marked the grand opening of new Hope Inside locations in Los Angeles, which will serve as hubs for financial education and support. With plans to establish 50 offices across the city over the next five years, Operation Hope aims to enhance the financial well-being of all Angelenos, reinforcing its commitment to community upliftment.

As the session concluded, the council members and attendees applauded the partnership, recognizing it as a pivotal step toward fostering economic growth and resilience in Los Angeles. The collaboration between the city and Operation Hope stands as a beacon of hope, promising to empower individuals and transform lives through financial education and support.