Somerville Community Corporation is a membership organization that provides leadership for sustaining the City of Somerville as a vibrant, diverse and tolerant community. The SCC offers services and leads community organizing that supports low- and moderate-income Somerville residents in their efforts to achieve economic sustainability and increase civic participation. One of their core affordable housing development programs is “100 Homes”. To that end, they have acquired 47 affordable housing units in the last 3 years and plan to acquire the last 53 within the next 2 years. As they balance multiple funding streams for this ambitious and important project, BII is offering them a bridge loan until the reception of outstanding receivables from the City of Boston. Learn more.
Somerville Community Corporation offers services and leads community organizing that support low- and moderate- income residents to increase economic sustainability and civic participation. SCC partners with local developers, foundations, lenders, the City of Somerville, and community organizations, serving as a nexus for multi-stakeholder relationships. Following a 2019 bridge loan, in 2020, BII provided SCC with a second bridge loan to acquire housing units for primarily low-income and immigrant families. Learn more
Futuro Media Group creates multimedia content for and about underrepresented communities in an increasingly diverse world. Founder Maria Hinojosa is an award-winning news anchor and reporter who has covered America’s untold stories for over two decades. In 2019, BII provided a bridge loan to FMG and in 2020, BII provided a term loan and a line of credit for growth and navigation of funding cycles. Learn more
Futuro Media creates multimedia content for and about underrepresented communities in an increasingly diverse world. FMG has developed the Community Podcast Lab, a 15 week pilot program in Boston focused on elevating the narratives and story-telling skills of people of color in Boston. In 2019, BII provided a $150,000 bridge loan to cover costs of the Community Podcast Lab until the reception of a MacArthur Foundation Grant. Learn more.