Operation HOPE is a non-profit organization dedicated to promoting financial literacy among Black businesses. Focused on driving economic empowerment and improving growth, Operation HOPE has positively impacted the lives of hundreds of thousands of individuals since being founded in 1992, including significantly reducing client debt, increasing client savings, and improving client credit scores.
The organization recently released its second quarter impact results following a 2020 initiative to support over 150,000 Black-owned businesses and increase equity in the business industry via a press release. The initiative, called
One Million Black Businesses (1MBB), provides accessible technological tools and services to Black entrepreneurs to scale their businesses. Since it was formed, 1MBB has successfully assisted over 300,000 businesses, even committing to loaning over $25 million to small businesses.“The 1MBB Initiative is more than just about creating businesses. It is about breaking down barriers and empowering Black entrepreneurs to build generational wealth. Through this initiative, we are nurturing a culture of financial literacy, encouraging smart entrepreneurial financing, and driving long-term economic empowerment,” said John Hope Bryant, founder and CEO of Operation HOPE.
Operation HOPE has been at the forefront of change in recent years through its many efforts to help businesses evolve. In June, the organization launched a program called the 1865 Project, which aims to help low-income and middle-income families connect to the private sector and finish what Frederick Douglass started centuries ago with the Freedman’s Bank. “At that moment in history, America had the opportunity to make good on a promise of not just civil and civic participation for the formerly enslaved, but economic participation as well. That bold vision never came to fruition, a challenge we want to reissue to America,” Bryant said about the project. Through the 1865 Project, low-income households will be offered financial programs and resources.
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