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Tory Burch Returns To Philadelphia To Help Women Entrepreneurs Achieve Their Goals

By Diana Rocco

PHILADELPHIA (CBS) -- Hometown girl and self-made designer Tory Burch is back in Philadelphia.

"I never imagined where it would be today and I actually wanted to open one shop and a five-year plan of three more," designer Tory Burch said.

She's talking about her rise in the fashion industry and helping other women achieve their dreams.

"I often say if it's not scary or if your heart doesn't race, you're not dreaming big enough," Burch said.

The Tory Burch Foundation is now partnering with Bank of America offering mentorship and millions in low interest loans so businesses can grow and hire -- and jump start the local economy.

"We hear more and more that women entrepreneurs have had trouble accessing capital and that's been one of the real barriers to their expansion," Andrew Plepler of Bank of America said.

More than 100 women received one-on-one time with established entrepreneurs at the Rittenhouse Hotel Tuesday.

"Video production is a primarily male-dominated field, but we've really found a niche market," entrepreneur Vanessa Braxton said.

Vanessa Braxton started a video production company with two friends at 23 and hasn't looked back.

"You don't know what's going to happen when you're an entrepreneur, so it's a brick wall essentially," Braxton said.

Tory's story and round table discussions with other mentors has offered inspiration when the road gets tough.

"You take each experience as a learning experience. If something negative happens, learn from it and see how to move it forward," Burch said.

Advice from the mentors included always having a plan, staying strong, knowing that mistakes will come, but success can be achieved.

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