Marine offering free boxing lessons to inner-city residents

Michael Steadman wanted to share the love he had for boxing, and that's where IRONBOUND Boxing was born.

When Capt. Michael Steadman retired from the Marine Corps, he was looking for what to do next.

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"When I got out, I debated between going to grad school or moving to Newark and starting an inner-city boxing program," Steadman told FOX Business' Charles Payne on Veterans Day.

He chose the latter.

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Steadman learned how to box while in the Naval Academy. He fell in love with the sport and was a three-time national champion.

He wanted to share the appreciation he had for boxing by offering a similar program to low-income areas. And that's where IRONBOUND Boxing was born.

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"We're focused on training, educating and employing young men and women from the inner city."

- Michael Steadman, INBOUND Boxing founder

Steadman was able to form a good working relationship with the City of Newark, N.J., and the city offered him a free space to turn into a boxing academy and train young adults for free.

"One of the things I've built out is a corporate wellness business that teaches boxing to companies as a form of employee wellness," Steadman said on "Making Money with Charles Payne." "A lot of companies in New York City metro area are having yoga instructors, meditation instructors to keep and retain talent, and we'd like to provide them with onsite boxing instructors."

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"We're creating an ecosystem where we're able to train kids for free in communities like Newark, and then get them employed as boxing trainers in corporate settings."

- Michael Steadman, INBOUND Boxing founder

Steadman said it's been a blessing to see the kids grow in the program over the past few years.

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