Renewal Grant from MUFG Union Bank Supports Young Entrepreneurs

​The Foundation received a $20,000 renewal grant from MUFG Union Bank to help the RCCD Workforce & Economic Development office expand its Young Entrepreneurs Network. This is the second grant this program has received from the bank.

In 2021, MUFG Union Bank presented a $10,000 grant to launch the Young Entrepreneurs Network. The program serves RCCD students and young entrepreneurs in the Inland Empire with a focus on traditionally underserved and marginalized communities. The purpose of the network is to create a supportive and inclusive environment for assisting young entrepreneurs in developing the knowledge and skills necessary to build and sustain a successful innovation or business venture. This network provides coaching and technical assistance on managing start-up costs and obtaining appropriate licenses to the legal aspects of new product development to hiring employees. It is also offering peer cohorts focused on product and plan improvement and entrepreneurship workshops.

The Young Entrepreneurs Network is staffed by a diverse group of entrepreneurship faculty, and is being managed through the District's Workforce and Economic Development office. Faculty provide coaching and technical assistance beyond the classroom, ensuring that each participant receives personalized assistance and is connected to specialized expertise as needed.

Since its inception, the Young Entrepreneurs Network has served over 350 unique individuals, 87 individuals made up women-owned businesses, 86 represented minority-owned businesses, 49 represented Hispanic/Latino owned businesses, and 34 represented black-owned businesses. As a result of the Young Entrepreneurs program, 37 new businesses were started by program participants.

“Recent successes from the program highlight the quality work that faculty are doing with student and alumni entrepreneurs," said interim executive director of economic development & entrepreneurship, Debra Mustain. “In three recent success stories, these local entrepreneurs hired a total of 21 employees and earned over $700,000 from businesses established in 2021. We are grateful to Union Bank for helping us launch and expand this program." Mustain said.

The MUFG Union Bank Foundation, a nonprofit public benefit corporation, serves as an agent for charitable contributions made by MUFG Union Bank, N.A. Throughout its history, the Foundation has supported the bank's commitment to help meet the needs of the communities it serves. Their mission is to make philanthropic investments that expand access to economic opportunity in low- and moderate-income communities specifically in the areas of affordable housing, community economic development, education, human services and the environment.​