Wells Fargo in collaboration with Operation HOPE, a national nonprofit dedicated to financial empowerment for underserved communities, recently introduced HOPE Inside for Small Business, which will provide financial coaching and support to small business customers at no cost.
The HOPE Inside centers opening in Baldwin Hills, Van Nuys and Charlotte, North Carolina will give entrepreneurs and small business owners the tools they need to start their dreams.
“This is our first opportunity to roll out HOPE Inside, small business in Baldwin Hills so, we’re super excited,” said Michael Martino, head of diverse customer segments, consumer small and business banking at Wells Fargo.
“Today, there are about 5.6 million unbanked households in this country—that’s a big number and that’s about 4.2% of the population of this country and we want to be a part in solving that and why we chose Baldwin Hills in particular is, let’s do some math here, it’s 4.5% so, that’s above the national average so, there’s really a need here and we have people that are passionate about doing this work so, we want to continue to do that.”
“It’s really powerful for us because when you think about the value of small businesses in our community, small businesses are the lifeblood of any community,” said Kristy Fercho, head of diverse segments, representation and inclusion at Wells Fargo.
“They really help people thrive because those small business owners, they live in the communities, they invest in the communities, they’re working in the communities and they’re pouring back into those communities.
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“It’s really the lifeblood of our economy and so, investing in these small businesses is incredibly important for us to really lean into and I’m thrilled that we get to do it with a partner like Operation HOPE.”
This expansion builds on the existing HOPE Inside program that helps empower community members to achieve their financial goals through financial education workshops and personalized coaching.
Wells Fargo first launched HOPE Inside centers in 2022 to serve individuals with their personal finances and help with information on budgeting, credit building, and money management. The new small business HOPE Inside centers will now offer those same specialized resources for small business owners in addition to business plan development, access to capital education and more. Through one-on-one coaching, entrepreneurs will receive personalized support to help start, grow, and sustain their businesses.
“My office does all of this—increase credit scores, reduce debt and increase savings,” said California State Treasurer Fiona Ma.
“So, having these types of partnerships, working with Operation HOPE, we hope to expand, not only savings for our customers, but also small business access to capital.”
Ma continued, “We now have more money for loan loss guarantees, loan loss reserves, collateral support and these are all under the treasurer’s office.
“A lot of people don’t know that so, we are definitely going to be partnering and hopefully spreading the word and making sure that your clients and others, the public, can come in whenever they want to seek this assistance, in a safe place so, that they know that the people they’re talking to are trusted because these days, we need to watch out for people who are trying to scam all of our customers, our parents, especially grandparents.
“Thank you to Wells Fargo, thank you to Operation HOPE.”
“As a financial well-being coach, with focus on small business development, I spend my time in empowering entrepreneurs and small business owners to take control of their financial futures,” said Raymond Haines, a financial business coach.
“I’ve worked in the financial industry for seven years and I’ve developed the tools and insights needed to help clients navigate funding, growth strategies, sustainable operations and more than that, I’m passionate about serving communities that are often overlooked when it comes to financial access and support.
“I believe everyone deserves the opportunity to build generational wealth and knowledge even if they did not inherit it. I’m proud to partner with Operation HOPE and Wells Fargo to break down barriers that are often expanded through financial literacy and help entrepreneurs build thriving businesses and uplift their communities.”
India Simone Callahan is the owner of Is Cal apparel and shared how the HOPE Inside center helped get her business started.
“When I was officially enrolled into the program, I was paired with Raymond and he’s helped me turn my big, bold ideas into a solid, well-developed business plan,” said Callahan.
“After working together, I finally had the foundation that I needed to build towards my dream of becoming a full-time entrepreneur.
“I now have the tools, the knowledge, the resources to confidently pursue funding and attract support from our growing business and the one-on-one guidance that Raymond provides and HOPE provides has made a world of a difference and it has been the catalyst to my brand’s successful movement towards relaunch this year.”
For more information, visit www.wellsfargo.com.
