Plus welcoming new hires & BlueHub in the news
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Fall 2022 Update
BlueHub Capital 2022-2026 Strategic Plan
Since 1985, BlueHub Capital (and its previous iterations) has been delivering financing to projects and people to address systemic challenges that face low-income communities. What started with $3,500 and one employee has grown to $2.4 billion in lending — plus $12.6 billion in additional capital leveraged — and a staff of nearly 40. Our enthusiasm and innovation have not slowed since those early days.
The next five years will be dominated by the unknown. The COVID-19 pandemic compressed a decade’s worth of change in work and home life into two years.
Inflation, supply chain issues, rising oil prices, labor shortages and Russia’s invasion of Ukraine constrain our ability to forecast the future. Plus, we all have experienced a huge shift in the way people work. We are figuring out how to be connected and collaborative while working on a hybrid schedule.
Our newly released 2022–2026 Strategic Plan emphasizes flexibility and responsiveness; it maintains our organizational commitment to innovation, leadership and financial self-sufficiency; and it challenges us to rethink the way we work. Read it here or request a physical copy to be mailed.
Be well,
Elyse D. Cherry
CEO, BlueHub Capital
In the News
Boston Business Journal: BlueHub Loan Fund praised by Arts & Business Council for innovative financing
The leader of the Arts & Business Council (A&BC) of Greater Boston calls for more affordable arts spaces and encourages more flexible financing, like that provided by BlueHub Loan Fund, to make it happen in an op-Ed published in the Boston Business Journal.
Boston Globe: Without this help, many families would have lost their homes
Two letters in support of BlueHub SUN's foreclosure relief work were published in the Boston Globe. Both experts add context to the purpose and need of the program, particularly the shared appreciation mortgage.
Univision: One Percent for America on rising citizenship fees
OPA, BlueHub's newest nonprofit initiative working to remove financial barriers to US citizenship, was featured on Univision's national weekday show La Voz de la Mañana on rising citizenship application fees and how to pay for them with our 1% interest loan (interview in Spanish).
Welcome to new BlueHub team members
Please join us in welcoming several new hires to our Loan Fund and SUN teams. We are so glad to have them aboard!
- Arunabha Chakravarty, SVP of Portfolio Management, BlueHub Loan Fund
- Scott Glucker, Mortgage Loan Officer, BlueHub SUN
- Ena Kumar, VP of Commercial Lending, BlueHub Loan Fund
- Lorraine Pappalardo, Mortgage Underwriter, BlueHub SUN
- Thaïna Serelus, Portfolio Manager, BlueHub Loan Fund
We're hiring, check out these open positions:
- President, BlueHub Loan Fund
- Financial Planning & Analysis Manager, BlueHub Capital
- Portfolio Analyst, BlueHub Loan Fund
Hoist the sails!
Our team enjoyed a night out on World Ocean School’s historic Schooner Roseway this summer, a great opportunity to support one of our Loan Fund borrowers. World Ocean School provides students of all backgrounds with immersive opportunities to learn to care for themselves, their crew and their ship, becoming vessels of change in the world they inherit. Here we are raising the sails.
Borrower Spotlight: DC SAFE's SAFE Space
DC SAFE supports and empowers thousands of survivors of domestic violence. “SAFE” stands for Survivors and Advocates for Empowerment.
“This is the only city crisis shelter in Washington, D.C. If someone calls at 2 a.m., a live person answers, ready to walk the caller through their choices, through the available resources," said Michelle Sewell, Crisis Shelter Director at DC SAFE.
With a $1.4 million construction loan from BlueHub, a new 30-unit apartment building will expand DC SAFE's capacity. Construction on the new SAFE Space shelter is underway and is expected to be completed by early 2023.
In BlueHub, DC SAFE has found more than financing; they have found an ally. “From the beginning, we have been impressed with BlueHub’s mission-centered commitment to the future impact of the new building. While our relationship is financial in nature, it has been far from transactional. We see BlueHub as a true partner in our work to ensure safety and self-determination for survivors of domestic violence in Washington, D.C.,” says Bridget Claborn, DC SAFE’s Development and Communications Director.
