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Hey, ladies. Want some funding courtesy of Tory Burch? The fashion designer with two stores in Las Vegas is teaming up with Bank of America on a new partnership that offers women entrepreneurs with the resources that they need to start and grow a business, including access to capital, mentoring support and networking opportunities. And Las Vegas is one of six cities nationally that gets to be first on board.
The new Elizabeth Street Capital is a joint effort between the Tory Burch Foundation and Bank of America. Locally, the loans will be administered by nonprofit Nevada Microenterprise Initiative. Bank of America is providing an initial $10 million in debt capital for loans for women entrepreneurs, particularly in low- and moderate-income communities.