Connecting women entrepreneurs in the U.S. to affordable loans

Tory Burch Foundation Capital Program logo

Over the last 40 years, women-owned businesses have generated trillions of dollars in economic activity and revitalized communities by providing tens of millions of jobs. Yet women entrepreneurs still face significant obstacles, including equitable access to capital and business networks. That’s why Bank of America and the Tory Burch Foundation launched the The Tory Burch and Bank of America Capital Program in 2014, dedicated to helping connect women business owners to affordable loans to help grow their businesses.

Over the eight year partnership, we’ve deployed more than $75 million in capital, administered by community development financial institutions (CDFIs), to help more than 4,300 women entrepreneurs across 17 states grow their businesses against our commitment to lend $100 million.

The program is supporting women business owners in the fields of tax & accounting, construction, fashion, auto mechanics, food service, health & beauty and more.

“We recognize that women entrepreneurs help fuel economic growth in communities across the U.S. and that access to capital remains a key challenge,” said Andrew Plepler, Global Head of ESG, Bank of America. “Partnering with the Tory Burch Foundation to advance women in small business is one way we invest in the future of local economies.”

How does it work? The video below explains the process.

Learn more about the The Tory Burch and Bank of America Capital Program and how it empowers women small business owners.

Community Development Financial Institutions (CDFIs) — community lenders

Do you own a business? Want to apply for a loan from the The Tory Burch and Bank of America Capital Program? For more information, please visit http://www.toryburchfoundation.org or contact a community development financial institution (CDFI) in your area:

Arizona

California

Colorado

Florida

  • Ascendus, 1.866.245.0783, 80 Maiden Lane, Suite 903, New York, NY 10038, website: Home

Georgia

  • Access to Capital for Entrepreneurs (ACE), 1.678.335.5600, 84 Peachtree St. NE, Atlanta, GA 30303, website: https://aceloans.org/

Illinois

Massachusetts

  • Ascendus, 1.866.245.0783, 80 Maiden Lane, Suite 903, New York, NY 10038, website: Home

Missouri

  • justine PETERSEN, 1.314.533.2411, 1023 North Grand Blvd, Saint Louis, Missouri 63106, website: www.justinepetersen.org/

New Jersey

New Mexico

New York

  • Ascendus, 1.866.245.0783, 80 Maiden Lane, Suite 903, New York, NY 10038, website: Home

Philadelphia

Texas

– 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

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

Originally published 3/8/2019