Profiles in Partnership — Bank of America

    August 28, 2023

    Propelling small business empowerment and economic mobility together

    Bank of America partners with DreamSpring to propel economic mobility by providing equitable capital access to underserved entrepreneurs. Together, we are fostering vibrant communities and addressing critical challenges through our support of diverse small business owners, the backbone of local economies.


    Bank of America's support takes a multi-faceted approach. Through investment capital, they empower DreamSpring to provide crucial loans that support small businesses. The funding from Bank of America acts as a catalyst, enabling DreamSpring to offer business loans and credit, extend technical guidance, and foster community engagement among underrepresented entrepreneurs.

    An exciting element of our partnership is the Tory Burch Capital Program, powered by Bank of America to uplift women entrepreneurs. Businesses that are at least 51% woman-owned and have operated for two years or more can benefit from not only financial assistance but also invaluable resources like Tory Burch Foundation webinars and opportunities. After 12 successful repayments, participants even receive a rebate of the interest paid. DreamSpring adds to this initiative by providing custom in-house technical assistance, fortifying the foundation of women's entrepreneurial success.

    Beyond financial support, Bank of America's involvement in the BofA CDFI Ambassador program facilitates connections between small business owners and vital resources, nurturing an environment where entrepreneurs can flourish. Through its partnership with DreamSpring, Bank of America is helping entrepreneurs access the capital they need and creating a ripple effect that resonates through communities, fostering economic mobility and empowerment.