Los Angeles City Council Recognizes Operation HOPE Founder John Hope Bryant for His 33 Years of Commitment to Helping Angelenos Secure a Better Economic Future
In addition, Mr. Bryant announced that Operation HOPE would be offering up to $1.25 million in scholarships for its services through its One Million Black Businesses (1MBB) initiative for Council District 10, which includes the community of Leimert Park, home to Operation HOPE's first location opened in 1994. Following the City Council ceremony, Councilwoman Hutt and Mr. Bryant toured the Leimert Park business district, where they met with a number of local entrepreneurs driving the revitalization of the area, including many who received early support services from Operation HOPE.
Awarded scholarships will support local entrepreneurs seeking to start, grow, or scale their businesses, including through access to Shopify's e-commerce platform. Services offered include one-on-one consultations with Operation HOPE small business specialists; support with developing business plans, marketing strategies, and accessing capital; access to Shopify's network of resources, including e-commerce training, a complimentary website, and peer support groups.
Operation HOPE was founded by Mr. Bryant on May 5, 1992, in response to the civil unrest in the wake of the Rodney King trial. In the midst of the turmoil and with parts of the city still on fire, Mr. Bryant organized his first 'Banker's Bus Tour' through South Central Los Angeles, making the business case for investment in underserved communities. Since that day, Operation HOPE has grown its reach with offices in 300 cities across the U.S., serving over 1,500 locations, helping more than four million individuals, and directing over $4.2 billion in capital into underserved communities throughout the country.
'It is always an honor and a privilege to be recognized for our contributions to our home city,' said Mr. Bryant. 'Operation HOPE began with a simple idea in response to the upheaval in my community – that everyone deserves the opportunity to fully participate in the greatest economy the world has ever known. That idea began and was nurtured in Los Angeles, thanks to so many prominent leaders like Mayor Tom Bradley, Rev. Dr. Cecil Murray, and Peter Ueberroth, who helped mentor and guide me as this idea expanded far beyond the borders of Los Angeles.'
Over the past decade, Operation HOPE has delivered measurable, life-changing results across Los Angeles, empowering individuals and families through financial literacy, coaching and access to opportunity. The organizations' impact includes:
Serving more than 24,000 unique clients across Los Angeles
Delivering more then 117,320 financial services including education, coaching and referrals
Facilitating 2,000+ financial workshops
Providing one-on-one financial coaching to more than 10,500 clients
Issuing 7,700+ referrals to banking products, promoting financial inclusion
Helping 62% of clients improve their credit score by an average of 38 points
Supporting 78% of clients in increasing their savings, with median growth of $800
Facilitating more than $46 million in loan applications, resulting in $27 million funded – including $43+ million in home loans applied for and $25+ million in home loans funded
Supporting the creation of 111 new businesses, fueling local economic development
About Operation HOPE, Inc.
Since 1992, Operation HOPE has been moving America from civil rights to "silver rights" with the mission of making free enterprise and capitalism work for the underserved—disrupting poverty for millions of low and moderate-income youth and adults across the nation. Through its community uplift model, HOPE Inside, which received the 2016 Innovator of the Year recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than $4.2 billion in economic activity into disenfranchised communities—turning check-cashing customers into banking customers, renters into homeowners, small business dreamers into small business owners, minimum wage workers into living wage consumers, and uncertain disaster victims into financially empowered disaster survivors. For more information: OperationHOPE.org. Follow the HOPE conversation on Twitter, Facebook, Instagram or LinkedIn.
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