Colorado’s female entrepreneurs now have one more option to reach their goal of small business ownership and expansion.
Women-owned businesses make up 30 percent of all businesses and generate trillions of dollars in economic activity by providing millions of jobs. However, women entrepreneurs still face obstacles in gaining access to the capital they need to start and grow a business.
Bank of America and Tory Burch’s Foundation Capital Program are connecting women around the world to the financial capital they need to maximize their potential through organizations called Community Lenders. In Colorado, Accion, a New Mexico-based nonprofit, has partnered with the foundation and the bank to help women business owners get the financing they need.
In fact, Bank of America recently doubled its initial investment in the Tory Burch Foundation Capital Program in hopes of reaching more women entrepreneurs in a number of states, including Colorado.
“Women business owners are a critical component of sustainable economic growth,” said Anne Finucane, vice chairman, Bank of America. “Our partnership with the Tory Burch Foundation demonstrates the power of shared success – providing capital that helps women entrepreneurs grow their businesses, in turn helping local economies thrive.”