Builds on 10-year Partnership,
$100M Capital Deployed to
Women-Owned Businesses
CHARLOTTE, N.C., April 2, 2024 /PRNewswire/ -- Bank of America and
the Tory Burch Foundation today unveiled a new pillar in their
long-term commitment to empower women entrepreneurs. The Tory Burch
Foundation Business Webinars presented by Bank of America is a
virtual program featuring education on a range of entrepreneurial
topics and a robust content library for on-demand learning. It is
poised to be the largest, free online educational resource
available for women entrepreneurs -- building on a decade-long
partnership-- including The Tory Burch and Bank of America Capital
Program, which provided more than $100
million in low-cost capital to women entrepreneurs.
Women have created about half of the new small businesses
launched since the start of the COVID-19 pandemic, according to the
Senate Committee on Small Business and Entrepreneurship.
"It takes more than a great idea and determination to build a
business; it takes resources," said Tory Burch, Executive Chairman
and Chief Creative Officer of Tory Burch. "When we equip founders
with expert insights, we create a catalyst for economic growth and
job creation. With Bank of America's help, the reach of this
program will be truly transformative."
Targeting early-stage, women-led businesses in all industries,
Business Webinars will provide expert instruction and takeaway
learning materials. The sessions will be offered live and on-demand
-- for free -- on the Tory Burch Foundation website and
YouTube.
"Through our 10-year partnership with the Tory Burch Foundation
and our extensive work with small business clients, we know that
women entrepreneurs need greater access – whether that's access to
training, mentorship, networks, capital or markets," said
Pam Seagle, Global Women's Program
Executive at Bank of America. "This is a one-of-a-kind platform
that has potential to reach millions of women entrepreneurs who
wouldn't have had access to a resource like this before."
Sessions will be hosted on Wednesdays at 1 p.m. ET by Tory Burch Foundation staff and
subject matter experts. Registration is open for Spring
programming:
- Scaling with Federal Funding
- Make Entrepreneurship Your Own
- Create Your Operations Blueprint
Countdown to Launch: Go-to-Market Strategy
- Leading Through Challenging Times
- Kickstart Your Tax Prep
About Bank of America
Bank of America is one of the
world's leading financial institutions, serving individual
consumers, small and middle-market businesses and large
corporations with a full range of banking, investing, asset
management and other financial and risk management products and
services. The company provides unmatched convenience in
the United States, serving
approximately 69 million consumer and small business clients with
approximately 3,800 retail financial centers, approximately
15,000 ATMs (automated teller machines) and award-winning
digital banking with approximately 57 million verified digital
users. Bank of America is a global leader in wealth management,
corporate and investment banking and trading across a broad range
of asset classes, serving corporations, governments, institutions
and individuals around the world. Bank of America offers
industry-leading support to approximately 4 million small business
households through a suite of innovative, easy-to-use online
products and services. The company serves clients through
operations across the United
States, its territories and more than 35 countries. Bank of
America Corporation stock is listed on the New York Stock Exchange
(NYSE: BAC).
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America
newsroom and register for news email alerts.
About the Tory Burch Foundation
The Tory Burch
Foundation empowers women entrepreneurs in the United States by providing access to
capital, education and community: the Fellows Program has provided
$1,850,000 in grants to help 280
women grow their businesses; the Capital Program, powered by Bank
of America distributed $100 million
dollars in low-interest loans to 5,600 women entrepreneurs;
the Women of Color Grant Program has deployed $3,200,000 in grants to 240 small business; and
annually the Foundation provides online education to more than
650,000 people.
Follow the Tory Burch Foundation
on Instagram, LinkedIn, Facebook,
Threads and YouTube.
Reporters may contact:
Eliza
Murphy, Bank of America
Phone: 1.646.855.0683
eliza.murphy@bofa.com
Footnote:
Women's Small Business Ownership and
Entrepreneurship Report - 2023
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SOURCE Bank of America Corporation