The Tory Burch Foundation Capital Program, powered by Bank of America

A Tory Burch Foundation and Bank of America initiative connecting women entrepreneurs to affordable loans

Over the last 40 years, women-owned businesses have become an increasingly important part of the U.S. economy, growing from 5 percent to 30 percent of all businesses. These enterprises generate trillions of dollars in economic activity and revitalize communities by providing tens of millions of jobs, yet women entrepreneurs still face significant obstacles, including equitableaccess to capital and business networks.

Established out of a mutual recognition of the opportunity that exists to support women entrepreneurs and advance local economic growth, Bank of America and the Tory Burch Foundation launched the Tory Burch Foundation Capital Program, dedicated to help connect women business owners to affordable loans to help grow their businesses.

Since the Tory Burch Foundation Capital Program was announced in January 2014, $19.5 million has been loaned to 711 women entrepreneurs. Over the next two years, the bank will increase program funding to $20 million for loans in 2016 and 2017.

The program has been launched in 17 states including, California, Florida, Illinois, Kansas, Massachusetts, Missouri, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina and Texas, including four additional markets announced in April 2016 (Georgia, New Mexico, Colorado and Arizona). CDFI partners have disbursed $10 million in affordable loans to nearly 300 women entrepreneurs in a range of industries, from hospitality and home improvement, to fashion and childcare.

For business owner and chocolatier Andréa Pedraza, the Tory Burch Foundation Capital Program has enabled her and her daughter Cindy to grow their business CocoAndré into the first women-occupied, owner-owned, Hispanic business in Dallas’ Oak Cliff neighborhood. Administered through CDFI PeopleFund in Texas, the program has been more than a source of financial capital for the Pedrazas—it has become a mechanism through which they can reinvest in their families and their communities, with Andréa noting: “Our husbands and the people in our neighborhood are proud of the fact that we are Hispanic women who own a business. We have seen a lot of support and reoccurring customers—people who have made our chocolates a part of their holidays and traditions, and who want to see us succeed.”

The partnership demonstrates a shared commitment to advancing women’s economic empowerment by connecting women entrepreneurs to the capital they need to succeed. From developing women within the company, to creating products and strategies that meet women’s needs and supporting women leaders globally, Bank of America is supporting women’s economic advancement around the world.

To join the conversation and see how we’re connecting women to economic empowerment worldwide, visit us here and on Twitter at @BofA_News.

Local community development financial institutions

Do you own a business? Want to apply for a loan from the Tory Burch Foundation Capital Program? For more information, please visit or contact a community development financial institution (CDFI) in your area:


  • Accion in Arizona, 1.602.252.3884, P.O. Box 41237, Tucson, AZ, 85717, website:


  • Accion in Colorado, 1.303.904.9362, 1441 18th St #150, Denver, CO 80202, website:


  • Accion East, 1.866.245.0783, 80 Maiden Lane, Suite 903, New York, NY 10038, website:


  • Accion Chicago, 1.312.275.3000, 1436 W. Randolph Street, Suite 300, Chicago, IL 60607, website:

Las Vegas

  • Nevada Business Opportunity Fund, 1.702.734.3555, 112 South Water Street, Henderson, NV 89015, website:

Los Angeles

  • VEDC, 1.818.907.9977, 5121 Van Nuys Blvd., 3rd Floor, Van Nuys, CA 91403, website:


  • justine PETERSEN, 1.314.533.2411, 1023 North Grand Blvd, Saint Louis, Missouri 63106, website:

New Jersey

New Mexico

  • Accion in New Mexico, 1.505.243.8844, 2000 Zearing Ave. NW, Albuquerque, NM, 87104-2045, website:

New York

  • Accion East, 1.866.245.0783, 80 Maiden Lane, Suite 903, New York, NY 10038, website:

North Carolina


San Francisco


– Austin: 1.512.472.8087, 2921 E. 17th St, Building D, Suite 1, Austin, TX 78702
– Dallas: 1.214.942.6698, 2801 Swiss Ave, Suite 120, Dallas, TX 75204
– Houston: 1.888.222.0017 ext 140, 12337 Jones Rd, Suite 407, Houston TX 77070

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