In a year when health has been the dominant global concern, the world has seen COVID-19’s disparate impact on low-income communities — and particularly on Black, Indigenous, and people of color (BIPOC). For Blacks and Hispanics, both COVID-19 infection rates and death rates are roughly triple those of whites. On every front, BlueHub borrowers are finding ways to address the problems head on — ways that not only solve immediate concerns but that will lead to lasting change.
Read MoreIn 2015, the Federal Reserve Bank of Boston reported that here in our hometown of Boston the median net worth for U.S.-born Black households was $8. Eight dollars compared to $247,500 for white households. The wealth gap between America’s richest and poorest families has become a chasm — and the effects of accumulated inequality and discrimination often mean that the racial disparities of wealth are staggering. Now, the pandemic has compounded these issues, with BIPOC households being disproportionably hit by the COVID-19 recession. BlueHub and our partners are fighting back.
Read More2020 was a year of natural devastation, with unprecedented forest fires, record-setting tropical cyclones, and an exceptional hurricane season. Global warming continues apace — and often low-income and BIPOC communities bear the brunt of our environmental destruction. At BlueHub, we have long been focused on environmental justice, mitigating the forces of climate change for the communities we serve and ensuring they benefit from ecological advances.
Read MoreIn “normal” times, more than 10% of United States households struggle with food insecurity. In 2020, those numbers escalated. By November, an estimated 23% of families — and 29.5% of families with children — had either been unable to acquire enough food or were uncertain of the source of their next meal. Fortunately, a raft of nonprofits has stepped into the breech. Adding to a robust emergency feeding network, they include restaurants, volunteer groups — and schools. Many are long-time BlueHub borrowers, organizations that do the inspiring community work we have applauded for decades.
Read MoreA few months into the pandemic, statistics proved what common sense had long dictated: Poor housing options are directly linked to poor health outcomes. We need to increase the housing supply along the full spectrum of need, from temporary housing for the homeless, to permanent supportive housing for formerly homeless, to new affordable housing options.
Read Moreaffordable housing units built, preserved or enhanced
household evictions prevented by helping foreclosed homeowners
dollars of additional public and private capital leveraged by projects we’ve financed
BlueHub Loan Fund makes loans to nonprofits, community organizations, and developers that create and enhance affordable housing, energy efficiency, community health resources, quality education, and other opportunities. BlueHub SUN works to prevent the displacement of families and the neighborhood-destabilizing effects of vacancy and abandonment by acquiring foreclosed properties before evictions occur and reselling them to their existing occupants with mortgages they can afford. BlueHub Energy stabilizes and reduces energy and utility costs of affordable housing and community facilities by improving their energy efficiency, conservation, and renewable energy use.
See Our 2020 Partners