Winter 2023 Update

Brenda Loya joins BlueHub as its first COO

I am delighted to share that Brenda Loya has joined BlueHub Capital as our new chief operating officer (COO).

I look forward to working with her to strengthen existing business lines and develop innovative strategies that will make us more efficient and propel us into our next chapter.

With a deep knowledge of how to use financial tools to build healthier communities, she is a perfect fit for BlueHub. Her extensive background within the community development financial institution (CDFI) world and her passion for serving her community are evident from her previous roles and volunteer work, and I am eager to witness the growth of BlueHub with her on our team. Read more about Brenda.

In addition to Brenda, our team continues to grow in 2023. Olga Volfson joined us as our new director of financial planning and analysis, and Jacky Lin joined BlueHub Loan Fund as a portfolio analyst.

Our team gathered in-person in February for our annual goals retreat, pictured below. We recapped the successes from 2022 and made plans for a robust year of growth ahead. I look forward to sharing more throughout the year.

Be well,

Elyse D. Cherry

CEO, BlueHub Capital

Meet Sellou, a BlueHub SUN homeowner

Sellou went through a divorce and had trouble paying her mortgage. She went into foreclosure in 2010 and lost title to her home in 2011; the bank owned her home and she was about to be evicted.

BlueHub SUN was able to negotiate a lower sale price with her bank, and SUN sold the home back to her in 2012 with a shared appreciation mortgage (SAM) that reflects the savings she got on her loan. Sellou remains a SUN client and because of her participation in the program, she has been able to regain her financial footing and build significant home equity.

SUN reduced her mortgage by: $99,000 (42%)
SUN reduced her monthly payments by: $380
SAM amount owed: $56,000*
Home equity earned by Sellou so far (after accounting for SAM payment): $95,000*

For many Americans, particularly in communities of color, hard work alone is no longer enough to maintain homeownership. Foreclosure starts on are on the rise nationwide and BlueHub SUN stands ready to assist homeowners facing foreclosure and eviction.

*As of December 2022

Meet more SUN clients

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In the News

Citizenship Status Creates Major Hurdle For Immigrants In Achieving Financial Goals

A new survey from One Percent for America shows that while immigrants and US-born citizens share 6 of 7 top financial goals, key services including health insurance, education loans, 401k plans, and auto loans are difficult to access for non-citizens.

BlueHub Receives Highest Rating From Aeris

BlueHub Capital received the highest rating possible from Aeris, the rating and information service for impact investors: a four-star impact management rating with Policy Plus and an AAA financial strength and performance rating.

BlueHub Capital Named to Top 100 Women-Led Businesses in Massachusetts for Ninth Consecutive Year

BlueHub was named to The Women’s Edge and The Boston Globe’s Top 100 Women-Led Businesses in Massachusetts list. This award honors women business leaders who are making a significant impact on the state’s economy.

Borrower Spotlight: North Shore CDC's El Centro

Historically there has been a divide between Salem, Massachusetts’ downtown district and the largely Latino neighborhood of El Punto. Despite Salem’s position as the second-most popular tourist destination in the Commonwealth, El Punto has experienced a century of disinvestment. So, when a prominent parcel of land just at the edge of El Punto became available, North Shore Community Development Coalition (CDC) seized the opportunity to develop it. They named the new development El Centro.

Straddling downtown and the South River, the site lends itself to being mixed use with space for a new larger facility for North Shore Community Health center, 48 affordable apartments for seniors, a bank and North Shore CDC's office.

Ilene Vogel, Director of Real Estate, pictured above, notes, “We are very excited to be able to provide two of the most important things for vulnerable seniors — safe, affordable housing and access to top-quality healthcare — all in one central location. Because that location is on the South River, we will also be able to help revitalize the waterfront and provide benefits to all of Salem. This is a once-in-a-lifetime opportunity.”