Tory Burch, CEO and designer of Tory Burch LLC, is partnering with Bank of America to provide $10 million in business loans for women entrepreneurs. In her interview, she explains the specific issues women in business face and how a focus on loans may help women entrepreneurs sustain a viable business:
“Being a woman in business, you have to have a louder voice, and that’s not me naturally as a person. We apologize a lot and as a group and we’re not always the best advocates for ourselves. Even making the correct salary that we should– equality of pay– I really believe that should be a given, and that it should be about the quality of work. I was not great at asking for my salary when I had different jobs. I really want to teach women and girls that it is okay to value the work that you’re contributing and that you should be paid equally.
I know women have a harder time getting loans. When I started this company a lot of people had raised eyebrows and didn’t take it that seriously and I felt it. I never knew that growing up. I grew up with three brothers with the feeling that I could do anything; that’s how my parents raised me. Then when you get into the workforce it’s a different kind of feeling that you get from people.”
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