Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) is in Memphis to participate in a fireside chat with CEO Chairman and Founder of Operation HOPE John Hope Bryant, and Memphis Mayor Jim Strickland to discuss economic development opportunities and resources for local small businesses and aspiring entrepreneurs in historically underserved communities.
The SBA and Operation HOPE signed a Strategic Alliance Memorandum (SAM) in March of 2022, an agreement to develop a working relationship
to strengthen and expand small business development opportunities. As part of the agreement, SBA and Operation HOPE will connect historically underserved communities with mainstream private sector resources to empower underserved communities. This collaboration will connect SBA programs and services to the Operation HOPE 1 Million Black Businesses initiative and their financial literacy initiative. SBA will provide information workshops and technical assistance with local Community Navigators/Resource Partners to drive awareness around access to capital, procurement, business development, and economic recovery. A special emphasis will be placed on connecting
existing Operation HOPE financial literacy programming to SBA microlending and community advantage lending