Boston Business Journal: BlueHub one of financial institutions in Mass. to get CDFI grant funding

April 13th, 2023

The Boston Business Journal reports that the U.S. Department of the Treasury will invest more than $38 million into Massachusetts financial institutions to support lending in low- and moderate-income communities. 

BlueHub Loan Fund received almost $5 million in funding.

The nonprofit will use the funding to continue its work in address housing insecurity for low-income people across its 22-state footprint, prioritizing projects in Massachusetts, New York, Tennessee, and the Gulf States of Alabama, Mississippi and Louisiana, which are all areas hit hardest by COVID-19.

“No one entity alone can meet the demand for housing in the US. It’s so important that CDFIs continue to work together and leverage capital from other sources to effectively address housing insecurity,” said Elyse Cherry, CEO of BlueHub Capital, in a statement. “BlueHub is proud to have received this funding to expand our work addressing this critical issue.” 

Read the full article.