Beantown Builders is a Brockton-based general contracting firm that specializes in residential remodeling projects in the Greater Boston area. The company works with first-time homebuyers who take 203K loans to remodel the homes, which are often distressed properties. In 2021, BII made a loan to Beantown Builders to support company growth. Learn more

Boston Impact Initiative published its 2020 Impact Report highlighting the resilient community of small businesses in Eastern Massachusetts and nascent economic justice investment funds across the country. 2020 was no ordinary year! The COVID-19 pandemic and economic crisis, paired with the renewed struggle for racial justice, made 2020 particularly challenging for BIPOC leaders. Through the generosity of supporters, we came together to provide BIPOC small businesses and workers with much-needed assistance by disbursing grant funds, putting in hundreds of hours of technical assistance and collaborating with partners to advocate for the needs of BIPOC-owned small businesses.

“Despite the odds, our portfolio companies demonstrated courage and resilience by creatively pivoting business models, relentlessly pursuing relief funds, and surviving–until they can once again thrive. Amid the uprisings in their cities, [fund-building] cohort members demonstrated leadership and engaged new and broad-based support for investing with a racial justice lens. We are living through a defining moment, and our collective ability to act with care, generosity and justice is being tested.”

– Excerpt from the letter from BII President and Founder, Deborah Frieze

In the BII Fund, our impact continues to have a positive effect on the community:

• The portfolio is majority run, governed and staffed by people of color;
• Total compensation in the portfolio was $28.5 M;
• The portfolio pays the vast majority of its workers above living wage; and
• Despite the pandemic, most companies grew revenue and raised follow-on capital.

We invite you to read more here.

Waku produces and sells horchata lojana, an ancient Andean herbal beverage that promotes a healthy gut. The Latinx-owned business sources its herbal ingredients from small-scale indigenous farmers in Ecuador at fair prices and has pursued organic certification for many of its ingredients. After producing and bottling its products in Ecuador, Waku distributes them in New England stores and direct to customers through its website. In 2021, BII provided Waku with a line of credit to even out cashflow as the company grows.

Learn more about Waku and find out how you can try Waku by ordering online or finding it in a store near you.

Roundhead Brewing is the first Latinx-owned craft brewery in Boston! The solar-powered brewery will open in 2021 in Hyde Park in the former Powerhouse at Westinghouse Plaza. The brewery aims to be a community space that will sell a variety of craft beers and fresh pizza in the taproom and beer in cans to-go. In 2021, BII invested in a term loan as part of a larger equipment financing facility in partnership with RSF Social Finance to purchase electric brewing equipment. Learn more here

Roundhead also raised over $100,000 from over 240 investors through Mainvest, platform that connects communities with local, brick and mortar businesses. Their success bodes well for a neighborhood that will embrace the new local brewery. Watch the video about Roundhead Brewing here.

Caraballo Accounting provides accounting and HR services and training to Latinx small business owners in Eastern MA. Through cultural competence and Spanish-language instruction, they address barriers for local entrepreneurs looking to launch, grow, and expand their businesses. Owner Franklin Caraballo has partnered with various local Latinx organizations to address the need for advisory support and small- business coaching in the region. He currently serves the communities of Lowell, Lawrence, and Worcester. In 2021, BII made a loan for expanding the team and building out its online training platform.

Learn more about Caraballo Accounting

The Chelsea Business Foundation is a nonprofit organization that invests in the development of the business community in Chelsea, MA and fosters increased access to resources for Chelsea’s Latino business community and other small businesses. Its goal is to create an engaged community by hosting events and providing resources, technical assistance, and financial support. CBF is an enabler for small business owners to grow and scale their businesses. In 2020, BII provided a loan and a line of credit to Chelsea Business Foundation to support its technical assistance for small businesses.

Learn more about Chelsea Business Foundation

MentorWorks aims to make higher education and technical training more accessible through income share agreements (ISAs). In partnership with different universities and community colleges, MentorWorks provides both income-share based education financing and career mentorship, the first platform to do so. In addition to expanding access to higher education, MentorWorks models inclusive ownership. 50% of the business is owned by people of color, and employees have equity in the company.

In 2020, BII invested in MentorWorks through a special funding vehicle (SPV), along with ECMC Foundation, enabling Mentorworks to fund the higher education of students, primarily of color, who are attending community colleges or enrolled in technical training programs in Boston.

Learn more about MentorWorks

Boston Impact Initiative is looking for an Impact Investment Intern and a Marketing Intern for 8 to 10 hours per week during Spring Semester 2021.  This is a remote and unpaid internship, but we can provide support needed to get school credit and/or funding.

Deadline for applications for Spring is Jan 1st. Email jobs@bostonimpact.com with a resume and brief cover letter. Please note the internship that you are applying for in the subject line of the email.

Please scroll down for internship descriptions.

Impact Investment Intern

Responsibilities

The Impact Investment Intern plays a significant role in BII’s integrated capital strategy. The primary responsibilities include working together with the Impact Investment Associate and Directors in analyzing prospective investments and providing on-going support to existing portfolio companies. 

• Maintain a thorough understanding of the investment thesis and mission of BII
• Investment Analysis: Financial modeling, valuation, industry or asset class research, and general investment diligence
• Portfolio Analysis: Support the Staff in performing analysis on existing investments, frequently with the intent of communicating conclusions and recommendations to the Staff or the Investment Committee
• Administration: Maintenance of BII’s electronic files, operating / investment reports, and other reporting
• Miscellaneous: Perform any such duty as necessary to support BII’s impact and financial processes.

Qualifications 

• Must be enrolled in an undergraduate or graduate degree program
• Demonstrated interest in and understanding of economic justice, sustainability, and/or related topics
• Excellent skills in quantitative analysis, problem solving and general critical thinking
• Strong written and verbal communication skills
• Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment
• Ability to manage multiple tasks and to meet deadlines 
• Excellent organization, attention to detail and follow-through
• Unquestioned ability to handle confidential information in a professional manner 
• Possess analytical skills and an interest in financial markets, public policy and social and environmental issues
• Proficiency with MS Office (Excel, Word, PowerPoint)
• Knowledge of investment assets and markets. Knowledge of analytical methods for determining fair value and an investment’s merits. Knowledge of investment implementation methods and typical fund terms in both public and private asset classes

Marketing Intern

Responsibilities

The Marketing Intern plays a significant role in BII’s communications and social media strategy. The primary responsibilities include working with the Impact Director to manage communications materials and social media channels. 

• Maintain a thorough understanding of the investment thesis and mission of BII
• Create communications collateral and write content for each new investment.
• Curate content for social media channels (Twitter, Instagram, Facebook, LinkedIn), including portfolio updates, thought-leadership content, and other information. 
• Meet goals of organically growing followers across all social media platforms.
• Miscellaneous: Perform any such duty as necessary to support BII’s impact and marketing processes.

Qualifications 

• Must be enrolled in an undergraduate or graduate degree program
• Demonstrated interest in and understanding of economic justice, sustainability, and/or related topics
• Excellent written and verbal communication skills
• Familiarity with the use of social media in broader communication strategy
• Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment
• Ability to manage multiple tasks and to meet deadlines 
• Excellent organization, attention to detail and follow-through
• Unquestioned ability to handle confidential information in a professional manner 
• General understanding of investment principles, impact investing, small business, social entrepreneurship, and/or other related topics. 
• Proficiency with MS Office (Excel, Word, PowerPoint)