The Bank of America has loaded the Inland Empire Center for Entrepreneurship (IECE) at Cal State San Bernardino with $200K grant to help underserved Black, indigenous and people of color (BIPOC) businesses in the Inland Empire.
The Grant to Help 250 Businesses
The grant is intended to help approximately 250 business owners — a majority of which are owned by Black, indigenous and people of color. CSUSB’s IECE estimates that it will help these 250 business owners to create or sustain about 650 jobs and create an economic impact of nearly $4 million.
“As the nation’s leading small business bank, we know firsthand the challenges that entrepreneurs have faced the past two years, especially minority-run businesses disproportionately impacted by the pandemic,” said Bansree Parikh, president of Bank of America Inland Empire and business banking market executive. “We have the opportunity, thanks to programs like those offered by the IECE, to help hundreds of local companies build resiliency and experience an equitable recovery. We’re excited to work with the IECE in these efforts.”Bansree Parikh, President of Bank of America Inland Empire
IECE Helps Local Businesses to Access Federal and Local Assistance Programs
It appears that local business owners have a hard time in understanding often long-winded requirements and complying to the reopening guidelines and implement safety plans which is necessary to apply for local and federal funding. This is where IECE helps the local businesses in not only making the case for grants but also pivoting to new ways of continuing operations.
Other Grants Obtained by CSUSB
CSUSB frequently receives grants and funding from both the government and other non-profit organizations as well as the corporate sector. For instance, in September last year, CSUSB received a $3M grant from The National Security Agency (NSA) to build cyber security talent in the country. The university was to complete the project in collaboration with the Riverside Community College District’s LAUNCH Apprenticeship Network, San Bernardino County Schools, and the company Tomorrow’s Talent.
“Our goal is to ensure that students in high school, community college and four-year institutions have a direct path into the cyber apprenticeship pipeline as well as internships and, ultimately, jobs,”
Tony Coulson, executive director of the CSUSB Cybersecurity Center
In another instance, CSUSB partnered with the city of Palm Desert, and the Coachella Valley Economic Partnership to open the Palm Desert iHub, a new digital hub. This opened up new academic programs for the Coachella Valley as the digital hub offers three university programs in Cybersecurity, Entrepreneurship, and Hospitality Management.
Since you are here, you might want to check out grants won by other universities and colleges (UC Riverside and Chaffey College) of the Inland Empire.
- Chaffey College gets $2.9M state funding to build a welding training facility at Fontana
- Chaffey College Foundation gets $1.3M grant for Inland Empire youth
- UC Riverside gets a grant of $450K from SCEIN
- Why a UC Riverside scientist got $2M in grant? It has to do with Quantum computers
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