Courtesy of Boston Ujima Project. (From left to right, top to bottom: Maria Elena Letona, Lisa Owens, Chuck Turner, Nia Evans, Aaron Tanaka, Kali Akuno.) 2018, Boston. Photo by Lolita Parker, Jr.
The Boston Ujima Project, a project of the Center for Economic Democracy, is building a democratically governed investment fund controlled by and investing within specific neighborhoods of color of Boston, Massachusetts–Roxbury, Dorchester, and Mattapan–which have been underserved historically. AmbitioUS is investing in Ujima’s Fund, purchasing a 7-year note which provides a return of 1.5% simple interest paid annually, and providing a grant for their loan loss reserve that acts as first-loss protection for community-member investors.