Funds For Good Impact is becoming the 20th member of the Solifin network!
We are really pleased to welcome a new impact funds, whose co-founder Patrick Somerhausen accepted to answer to an interview.
Who are you and what is your role in Funds for Good Impact?
My name is Patrick Somerhausen and I am the co-Founder of Funds For Good Impact.
What was your motivation in joining and creating Funds for Good and what makes it unique?
Funds For Good spawned from the ideas of 2 socially engaged entrepreneurs who decided to combine their passion for their job with their human values. The company’s main goal is to maximize profits in order to pay out 50% of the profits (with a minimum of 10% of the income) to a social project Funds For Good Impact.
Funds For Good Impact provides free of charge the two necessary needs of every beginning entrepreneur: equity and coaching. The organisation believes that the combination of these two resources opens doors to a promising entrepreneurial adventure – which in turn creates employment and increases prosperity in society.
How does your organisation succeed in its mission so far?
The activities allowing Funds For Good Invest to generate income consist in distributing socially responsible quality investment funds through financial intermediaries (banks, insurance brokers). Thanks to this activity and its donation process, each investment in Funds For Good’s products generates locally a concrete social impact. Up to September 2020, we have been supporting financially 535 entrepreneurs, mostly in Belgium and we are also developing new partnerships in France.
What are your main challenges for the years to come?
In Belgium, we need to continue strengthening our partnerships to develop our financing (loans of honors) of social entrepreneurs. We also want to ensure our coaching proposal is efficient for both entrepreneurs and coaches. As we believe our coaching proposal can make the difference next to our financial support. We are also actively developing our international partnerships, in France and in Spain and we will need to see how we can ensure a similar approach abroad.
Why was it important for you to join Solifin and what are your expectations?
As we want to increasingly focus on helping social entrepreneurs, Solifin is a key partner for us and we are very much looking forward to becoming members! Our expectation is to propose free financing and coaching to more and more social entrepreneurs in collaboration with Solifin Members (already with Crédal, Change, LITA.co, and more!).