Council District 10 partners with Operation Hope to boost small business support in Los Angeles

The Regular City Council meeting held on May 9, 2025, in Los Angeles focused on a significant partnership aimed at enhancing financial literacy and support for small businesses in the city. The meeting commenced with Council Member Park expressing pride in the collaboration with Operation HOPE, an organization dedicated to promoting financial education and economic equity.

Council Member Park highlighted the struggles many Angelenos face in achieving financial freedom and introduced John Hope Bryant, the founder and CEO of Operation HOPE. Bryant emphasized the organization's mission to provide tools for financial success, including coaching, education, and pathways to homeownership and entrepreneurship. He celebrated Operation HOPE's 33 years of service and its impact on underserved communities.

A key announcement during the meeting was the partnership between Council District 10 and Operation HOPE, which will provide $1.2 million in scholarship grants to support small businesses, particularly those owned by Black entrepreneurs. This initiative is part of a broader commitment to foster economic growth and sustainability within the district. The program will offer comprehensive assistance, including mentorship and training, to help business owners thrive.

Bryant also shared the organization's impressive growth, noting that Operation HOPE is now the largest financial literacy coaching organization in the United States, with 1,500 offices across 42 states. He expressed gratitude for the support from local leaders and emphasized the importance of community partnerships in driving economic change.

Lance Triggs, president of programs at Operation HOPE, further elaborated on the partnership's goals, mentioning the establishment of 50 offices in Los Angeles over the next five years. He also highlighted the organization's involvement in Project Restore LA, aimed at aiding recovery efforts for homes damaged by fires in Altadena.

The meeting concluded with a commitment to continue supporting small businesses and enhancing financial literacy in Los Angeles, marking a significant step towards economic equity in the city.