Fashion and Finance: Tory Burch and Bank of America Team Up

The designer wants to lend a helping hand to new female entrepreneurs

Photo: Thinkstock

Female entrepreneurs are taking the business world by storm. Some, however, haven’t been able to get their brilliant business ideas off the ground due to lack of funding, support, or both. Thankfully, there are new initiatives in place to make their entrepreneurial dreams a reality.

Billionaire fashion designer Tory Burch, through the Tory Burch Foundation, has partnered with Bank of America to accomplish the mission of Elizabeth Street Capital.

This is a program that offers novice female entrepreneurs in the United States an opportunity to gain access to funding, mentorship, and professional networking opportunities.

Bank of America and the Tory Burch Foundation supplied $10 million in affordable loans to Community Development Financial Institutions in Boston; Charlotte, N.C.; Dallas; Las Vegas, New Jersey; New York; Philadelphia; and San Francisco. The money will go toward assisting women who are in the early stages of starting a business.

If you don’t live within one of the above markets, don’t lose heart. Elizabeth Street Capital has plans to branch out to additional markets over the next two years.

For more information and eligibility requirements, go here.

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