Grand Bank of Hamilton bestows $50K Grant to Rider to create entrepreneurship program for veterans

Program offered to enterpreneurial-minded veterans at no cost
Tuesday, February 4, 2014

Grand Bank, N.A., has bestowed a $50,000 grant to Rider University to create an Entrepreneurship Program for Veterans. The seven-week boot-camp style program will be offered this summer on Rider’s Lawrenceville campus, free of charge to veterans wanting to start or expand a business.

Dr. Steven Lorenzet, dean of the College of Business Administration at Rider University, said, “We are so fortunate to have Grand Bank as our partner and our friend in this unique and brand-new endeavor. We are exceptionally grateful for their support, and anxiously anticipate creating a beneficial program for our veterans.”

Lorenzet said the curriculum aims to teach veterans how to launch a new business, apply for funding for a business, grow an existing business, and/or start a degree program to further a veterans’ education. “There will be very tangible outcomes from this program,” he said. “From business strategy to accounting advice, participants will learn the essential information they need whether they want to create a start-up, buy a franchise, or expand their current company."

Mark Wolters, President and CEO of Grand Bank, said, “When we proposed this idea to Rider University, they were immediately on board with our concept of the program and how it would benefit our returning service men and women.  Our banking and financial experts will be able to provide information and mentorship to the veterans who participate in the program and work with them individually to help each participant find ways to achieve their business goals.”

According to the U.S. Census Bureau, veterans own nearly one in 10 small businesses nationwide. These 2.4 million small businesses employ almost six million people and generate over one trillion dollars in revenue.

Russel Melville, coordinator of Veterans Affairs at Rider University, said, “The management and leadership experience the veterans of our armed forces have accumulated over the course of their military careers is invaluable, and dovetails perfectly with the traits needed to run a small business.”

Added Dr. Ronald Cook, Entrepreneurship professor at Rider University, “Personally, I look forward to working with the individuals who will participate in the program this summer, and to see the personal and professional growth they will achieve as a result of this unique education.”

Registration for the Entrepreneurship Program for Veterans will begin in mid-February. Additional information will be announced soon on Rider University’s web site at www.rider.edu.

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