Somerville Community Corporation Receives Bridge Loan for Affordable Housing Project

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.