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Summer 2023 Update
Karen Kelleher named President of BlueHub Loan Fund
I am delighted to share that Karen Kelleher has joined our team as the next president of BlueHub Loan Fund.
Karen has spent her career working to improve outcomes for underserved communities through lending and community development. As President of the Loan Fund, Karen oversees more than $100 million in annual lending and manages a $670 million portfolio of community development loans that help build healthy communities where low-income people live and work.
Prior to BlueHub, Karen served as LISC Boston’s executive director, and as Deputy Director and chief business officer at MassHousing. She is a member of the board of the Partnership for Financial Equity and a member of the Massachusetts Coalition for Racial Equity in Housing. Read more about Karen in The Boston Globe.
In addition to Karen, our team continues to grow in 2023. Natasha Charles joined us as BlueHub's receptionist and administrative assistant; Shelley Hough is the new loan closing specialist for the Loan Fund; and Dan Ryan joined BlueHub SUN as its mortgage loan processor and customer service liaison.
Our team is energized and excited about the work to come. Read more about our recent successes below.
Be well,
Elyse D. Cherry
CEO, BlueHub Capital
In the News
NPR's Marketplace: What’s the price of becoming a U.S. citizen?
BlueHub's latest nonprofit initiative, One Percent for America (OPA), was featured on NPR's Marketplace as a solution to address the cost of becoming a citizen. “My American dream is to be a citizen, to be able to vote,” said Jessica Mejia, an OPA borrower. “You don’t even feel it," she said about paying her 1% interest immigration loan each month. "Fifty dollars is what you spend at a restaurant."
Northeastern Global News: BlueHub CEO refuses to be marginalized, becoming an LGBTQ+ trailblazer
Elyse Cherry, CEO of BlueHub Capital, was profiled in Northeastern Global News Magazine, a publication by Northeastern Law School, where Cherry graduated from in 1983. It details her advocacy on behalf of the LGBTQ+ community and accomplishments in community development.
Banker & Tradesman: Nubian Square queues up for cranes with BlueHub's help
Nubian Square, BlueHub’s home in the Roxbury neighborhood of Boston, is seeing a surge in development. Early-stage financing from BlueHub Loan Fund has played a crucial role in getting projects off the ground, as reported in Banker & Tradesman.
Learn from Experts
Molly Goodman, former housing counselor and nonprofit executive director, on BlueHub SUN's impact
Molly Goodman has dedicated her career to supporting affordable housing and homeownership for low- and moderate-income residents of Massachusetts. She is currently the executive director of The Midas Collaborative and the board president of Abundant Housing Massachusetts.
When working as a housing counselor, Goodman said BlueHub SUN was one of the only programs willing to work with clients to cut their mortgage principal balance to make lower monthly payments possible.
Join our Team
Bring your talents to BlueHub to help build healthier communities!
Rowers Ready!
Members of the BlueHub team got the opportunity to row on the Charles River recently as part of Community Rowing, Inc. (CRI) team building program.
CRI is a nonprofit dedicated to the belief that the sport of rowing provides unique opportunities to promote personal and community growth through teamwork, discipline and physical fitness. A big thank you to the CRI team and BlueHub’s HR/admin team for planning a wonderful afternoon!
Borrower Spotlight
Culture and tourism are economic engines that can fuel a neighborhood. The Dew Drop Inn, a hotel and music venue in New Orleans that opened in 1939, was once the cultural mecca of the local Black community. Its Central City neighborhood was a working-class area boasting a vibrant arts scene but it was subject to historic disinvestment, with the arts suffering in tandem with business.
After years of decline, the Dew Drop Inn was officially shuttered by Hurricane Katrina in 2005. Now, Curtis Doucette, CEO of Level Ground Development, is leading a team to reestablish it as a premier music venue and boutique hotel.
The Dew Drop’s rebirth will be catalytic for the community, the centerpiece of an effort to restore the area as an arts and entertainment destination.
