Care Academy Secures Impact Equity

Care Academy provides professional and family caregivers with high-quality online training classes to help deliver the best care to older adults with the support, guidance and compassion needed to improve their quality of life. The platform makes it easier for caregivers to upskill and continue their education to better serve clients and advance their careers. Co-founders Helen Adeosun and Dr. Madhuri Reddy are committed to serving caregivers who, like themselves, are often women of color and immigrants. In December 2018, BII Fund participated in an equity round. Learn more

Maven Launches in Massachusetts

Maven Construction is a woman- and minority-owned general contracting firm that provides construction management services. The Dorchester-based start-up focuses on energy efficiency and energy retrofit projects with healthcare and research institutions, multi-family housing, educational institutions and municipal projects. Founder JocCole “JC” Burton is a successful 23-year construction industry veteran who plans to develop innovative construction careers for people of color and women from the Greater Boston area. In 2018, BII Fund provided project finance to support an energy efficiency project with Howard University. Learn more

Sweet Teez Makes 48,000 Pies

COHIF Secures Affordable Housing

Coalition of Occupied Homes in Foreclosure (COHIF) works to stabilize the Greater Four Corners neighborhood of Dorchester by helping residents of foreclosed homes to stay in their homes, developing permanently affordable housing, and helping extend these efforts in other neighborhoods. The organization intends to place its homes into a community land trust. In August 2018, BII Fund provided a loan to support COHIF’s Community Stabilization Pilot Project, advancing crucial anti-displacement strategies in Boston. Learn more

TC’s Repair Completes Acquisition

TC’s Repair Service specializes in repairing commercial coffee brewers, grinders, espresso machines, hot water towers and juice dispensers. The company serves coffee chain shops, cafes, restaurants and coffee machine manufacturers. Husband-and-wife team Mario and Rachel Rodrigues decided to acquire the company based on Mario’s experience as a customer of TC’s Repair when he worked at Equal Exchange. In 2018, BII Fund provided financing for the acquisition. Learn more

Mobile Cuts Puts Another Truck on the Road

Mobile Cuts is a mobile barbershop that brings salon services right to your doorstep. The company is capitalizing on the growing trend of corporations and universities to offer services through vendors that stop by one day a week or for a couple hours at a time. In August 2018, BII Fund provided a loan for working capital and to purchase and renovate a second mobile truck. Learn more

UFI Secures Bridge Finance

The Urban Farming Institute of Boston, located at the historic Fowler Clark Epstein Farm in Mattapan, provides farmer training, creates green collar jobs and engages urban communities in building a healthy, local food system. The non-profit organization reclaims and restores vacant lots, transforming them into functioning urban farms. In May 2018, BII Fund provided bridge finance to support the acquisition of equipment and supplies for the farming season. Learn more

Gregory Bloomfield Joins Our Team

Gregory Bloomfield originally hails from Toronto, where he began his career as an auditor for Ernst & Young. He has over 20 years’ experience in bookkeeping, accounting, auditing, taxation and finance across many industries such as real estate, investments and non-profit organizations. Previously, Gregory was senior auditor for a local CPA firm as well as the Director of Finance for two performing arts organization in Boston. Gregory is an avid jazz fan and plays saxophone at his church and various gigs. He also is a youth mentor and motivational speaker. Gregory handles finance and administration for the Boston Impact Initiative Fund. 

 

Delectable Desires Pastries Continues to Grow

Delectable Desires Pastries provides gourmet home-baked goods from scratch, specializing in event cakes. The company opened its first retail store in West Roxbury in 2015, followed by a South Station kiosk a year later. Owner Carlene O’Garro, a Mattapan native, says that her Caribbean roots influence her use of ingredients and baking style. In 2017, BII Fund partnered with a local CDFI to provide a growth capital loan to expand her workforce and increase marketing. The company is focused on increasing local sourcing and providing good, fair jobs.

 

Epicenter Community Joins the Transformative Culture Project

In October, the Transformative Culture Project merged with Epicenter Community, a long-time portfolio member of the Boston Impact Initiative. The non-profit organization now focuses on the economic potential of the creative economy, providing award-winning arts and economic development programming for youth and adults. A key program is AccelerateBOS, which provides entrepreneurs of color with a cohort-based model for advancing their business ideas. BII Fund provided bridge finance to support the transition