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more than 900 companies supported and more than 1,000 jobs created

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Since its creation in 2013, Funds For Good Impact has already supported 912 entrepreneurial initiatives which have enabled more than 1,000 people to (re)find a job, thanks to the granting of more than €1.4 million in the form of loans d’honneur (quasi-equity loans, at an interest rate of 0%).

“In 2021, Funds For Good Impact, after analysis of the files by our Validation Committee, granted 180 honorary loans, in addition to microcredits granted by our partners. On average, the need for financing is around 10,000 euros and the loan of honor corresponds to a third of this. In addition to financing, Funds For Good Impact offers aspiring entrepreneurs free support to maximize their chances of success. For this, we rely on our community of 85 experienced professionals who coach entrepreneurs voluntarily and with kindness. In 2021, 25 new coaching sessions started. explains Patrick Somerhausen, co-CEO of Funds For Good Impact.

Among the 912 projects (at the end of 2021), 864 are located in Belgium throughout the territory, 35 in France, 10 in Luxembourg and 3 in Spain. For this, Funds For Good Impact has developed partnerships in each geographical area for a pre-selection of files to be analyzed: microStart (69% of projects financed), FinanceBrussels (9%), Credal (8%), ADIE (7%)…

Who are the funded entrepreneurs?

Funds For Good Impact is aimed at two types of entrepreneurs: on the one hand, financially vulnerable entrepreneurs who are looking for work, unemployed people on benefits, recipients of the CPAS, under temporary contracts or fixed-term contracts (89 % of projects funded). The amount lent can go up to €5,000, with a minimum deductible of 24 months.

And on the other hand, a new target since 2020, societal entrepreneurs, whose main objective is to contribute to solving an environmental or societal problem (such as an inclusive nursery for hearing-impaired children, a circular bakery-brewery, agroecological market gardening, etc. ). Loans for these entrepreneurs can be up to €15,000, with a maximum grace period of 12 months.

In some cases, the projects financed belong to both categories: they are financially fragile and carry a societal project.

Two-thirds of project leaders are between 26 and 45 years old; 40% are women.

They are mainly active in trade activities (28%), catering (22%), services (19%), body care (13%) and logistics (8%).

Getting out of precariousness through employment

In Belgium, 19.3% of the population is at risk of poverty or social exclusion according to the 2021 poverty barometer1. Exiting or avoiding exclusion involves, for some, creating their own job. This is what microfinance allows.

According to an impact study conducted by microStart and KPMG2, 92.4% of microloans are reimbursed and 70% of micro-enterprises are still active 2 years after their creation. Each entrepreneur creates, on average, 1.6 jobs.

The stabilization of employment allows these entrepreneurs to (re)find a socio-professional life, to emancipate themselves, to be able to access traditional bank financing again.

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