NextCity: New Tool Puts Racial Equity at the Center of Community Funding
BlueHub racial equity tool featured in Next City
BlueHub Capital's new impact measurement tool was featured in news publication Next City. The tool will assess the potential of loans to support racial equity in various community projects. Still in its pilot phase, the tool, called REAPP (which stands for Racial Equality Assessment that is Proactive and Practical) is intended to help direct loans to developers and borrowers focused on creating affordable housing, according to Catherine Dun Rappaport, who designs BlueHub’s measurement projects as its VP of Learning and Impact Measurement. The tool is “a more nuanced way of looking at loans for racial equity,” she says.
Eventually, BlueHub Capital is hoping to make REAPP available to the wider CDFI community. So far, a number of leaders in the CDFI community say they’re interested.