Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

BofA Doubles Capacity for Ivy League Female Business Program

March 2, 2022, 2:45 PM

Bank of America Corp. is doubling the capacity of its Ivy League education program catered to women business owners.

The company will add 50,000 seats to its Institute for Women’s Entrepreneurship at Cornell University, according to Pam Seagle, global manager for Bank of America’s women’s programs. That brings the total enrollment of small-business owners to 100,000, on a rolling basis.

“The original size of the program never seemed to keep up with the demand we saw,” Seagle said, adding that the expansion will accommodate the current wait-list and add additional seats.

The free, virtual program gives participants a certificate in women’s entrepreneurship through six classes offered over 12 weeks. The goal is to give entrepreneurs skills and connections to grow their businesses.

Raquel Solomon holds her certificate from the Bank of America Institute for Women’s Entrepreneurship at Cornell.
Source: Bank of America

Raquel Solomon, 52, graduated from the institute in 2021, and has been working to grow her Sacramento, California-based small business officiating weddings.

“I have been able to use the certificate to validate the integrity of my business,” she said in an interview.

Registration is open to anyone, even outside the U.S., regardless of gender, educational or stage of business. Since its founding in 2018, the institute has enrolled more than 50,000 individuals, predominantly women, 90% of whom identify as women of color, Seagle said.

Over the last decade Charlotte, North Carolina-based Bank of America has invested more than $50 million to help female business owners through partnerships that connect entrepreneurs to tools like mentoring and capital. Last year, the company launched a database to help women business owners access and learn about financing.

Read More: BofA Offers Database for Female Entrepreneurs to Unlock Capital

To contact the reporter on this story:
Katherine Doherty in New York at kdoherty23@bloomberg.net

To contact the editors responsible for this story:
Sally Bakewell at sbakewell1@bloomberg.net

Dan Reichl

© 2022 Bloomberg L.P. All rights reserved. Used with permission.