Boston Community Capital (BCC) is a Community Development Financial Institution whose mission is to build healthy communities where low-income people live and work through socially responsible lending and investing. BCC provides financing to create affordable homes, social services, childcare facilities, and youth programs, and provides equity capital to emerging businesses that offer strong social return. Since 1985, BCC has committed more than $370 million to low-income communities.
BCC provides community builders with a range of financial services and products, including loans, equity investments, and technical assistance. It operates through four subsidiaries:
Boston Community Loan Fund (BCLF), the program in which Calvert Foundation invests, finances affordable housing, child care facilities, and community organizations that serve low-income communities.
Boston Community Venture Fund (BCVF) invests in emerging, high-potential businesses that create jobs, goods, and services to low-income communities. BCVF seeks companies that offer a "double bottom-line" of social and financial returns.
Boston Community Managed Assets (BCMA) develops new business initiatives and innovative funding vehicles for low-income people and communities, including BCC's New Markets Tax Credit Program.
Aura Mortgage Advisors is a mortgage brokerage business dedicated to helping people understand the mortgage process and own a home they can afford. Our mission is to educate future hopeful homeowners on the perils of predatory lending practices, teaching them how to pick the right mortgage options, and helping them make well informed decisions throughout the process.
Investments by individuals, banks, religious organizations, foundations, and institutions such as Calvert Foundation provide the lending capital to BCC. Loans have a $1,000 minimum and a minimum term of one year, and earn 0-4% interest.
BCC's Loan Fund invests across New England. The Venture Fund invests throughout the Northeast. The New Markets Fund invests nationwide. All BCLF borrowers serve low-income communities or individuals, with 82% of its borrowers' clients having household incomes below 80% of the area median income; 60% of its borrowers' clients are minorities; and a significant portion are female-headed households.
To date, BCC's loans and investments have
- Helped build or preserve over 8,500 affordable homes
- Generated more than $116 million in homeowner equity and rent savings of over $598 million for low-income families and individuals
- Financed child care facilities and schools that have served over 5,400 children
- Created or preserved more than 1,500 jobs
- Renovated more than 530,000 square feet of inner-city commercial real estate.
Windale Developers, a borrower of BCC, builds homes that anyone could be proud of, taking pride in helping neighborhood groups to have a voice in the development process. The company invests in its community, providing minority contractors with the training and assistance they need to be competitive. The company’s employees have since founded four companies that are creating jobs and wealth in the communities BCC serves. Full Story