Operation HOPE (HOPE) has received a $500,000 grant from the U.S. Department of Commerce’s Economic Development Administration (EDA) to help train small business owners and promote innovation and competitiveness in small business throughout New York City.

The program, which will be administered by the HOPE Center located in Harlem, will help future entrepreneurs navigate through the often time confusing steps that lead to creating a new business. The funds will help HOPE bolster the already existing Entrepreneurship Program and focus on creating a small business technical support aspect to their curriculum. Operation HOPE has been active in the New York area for the last two years operating a full service center at 2511 Frederick Douglass Boulevard in Harlem.

“We are excited to join forces with the EDA in helping advance American small business and recover from this economic slowdown with sound fundamentals,” said Operation HOPE Founder, Chairman and CEO John Hope Bryant. “America is at its best when we invest in human capital and embrace innovation and change.”

“Operation HOPE is a strong partner in the effort to rebuild economically distressed communities around the country to foster growth and job creation. The U.S. Economic Development Administration looks forward to collaborating with the organization to support entrepreneurs and small businesses in New York City,” said John Fernandez, Assistant Secretary of Commerce for Economic Development who heads EDA.

The HOPE Center, New York has served over 30,000 individuals in the Harlem and surrounding areas since opening its doors in October, 2007. To date, the Center has educated and counseled over 2500 adults in financial literacy, provided small business technical assistance counseling to 308 small businesses and helped individuals obtain over 11 million dollars in mortgage and business loans.