Tory Burch and BofA Unveil Free Online Educational Resource for Women Entrepreneurs

Rhea-AI Summary

Bank of America and the Tory Burch Foundation launched the Tory Burch Foundation Business Webinars, a virtual program to empower women entrepreneurs. With $100M capital deployed, this initiative builds on a 10-year partnership, offering free online educational resources.

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

FAQ

What is the new program launched by Bank of America and the Tory Burch Foundation to empower women entrepreneurs?

Bank of America and the Tory Burch Foundation launched the Tory Burch Foundation Business Webinars.

How much capital has been deployed to women-owned businesses as part of this initiative?

$100 million has been deployed to women-owned businesses.

How long has the partnership between Bank of America and the Tory Burch Foundation been in place?

The partnership has been in place for a decade.

What is the key feature of the Tory Burch Foundation Business Webinars program?

The program offers education on entrepreneurial topics and a content library for on-demand learning.

What is the significance of this initiative for women entrepreneurs?

It is poised to be the largest, free online educational resource available for women entrepreneurs.