The business was recently awarded Best Community Engagement Program (NSW/ACT) in The Adviser Better Business Awards – the Australian home lending sector’s premier recognition program. According to Katsande, it’s a valuable acknowledgement that they’re on the right track. “That we could gain this level of recognition in such a short time – up against some of the biggest players in the sector – shows that people are interested in our model and what we’re working to achieve and inspire,” she says. “There’s a huge shift right now, a real impetus for change. So many people want businesses to do some form of good as a standard way of doing things. As one of the forerunners of this, we have a powerful opportunity to prove that any business can be financially successful but also do good within the community.”
The past year has seen the social enterprise clarify its vision and model to amplify its impact. For BFG, it’s not about simply not doing harm but proactively doing good through investing its profits. “Our mission is to use the power of finance to create a better future for our customers, communities and the planet,” Philipos explains. “We’re deliberate and transparent that our primary focus is to positively impact the financial wellbeing of our customers. And from that, benefit the community by investing our profits in projects with real impact, and the environment through giving our customers every opportunity to work with more ethical lenders if that’s the best fit for them. But regardless of which lender they choose, every customer’s investment contributes to a greater good.”
As part of this shift, rather than continuing to divert 50 per cent of its profits to multiple charities, BFG has partnered with a single organisation acutely aligned to its mission to help more people access a safe and comfortable home: Habitat for Humanity. “As a team, we were looking to how we could make a bigger impact from within our industry. With 1.6 billion people around the world experiencing homelessness or lack of access to affordable housing, we saw this as an important way to make a greater difference and help more people to afford their own homes,” explains Katsande.
BFG established its A Home for a Home program, making its first annual profits contribution at the end of the last financial year. The funds have helped build homes in disadvantaged communities in the Asia Pacific and, closer to home, assisted Australians like Fran to rebuild after the devastating Black Summer bushfires of 2019-20.
From its Macquarie University Incubator base, BFG has grown rapidly from the two founders to a team of seven, primarily Macquarie graduates. Together they have now supported almost 60 Australian families on their home buying and refinancing journeys, growing organically on referrals from happy customers who have eagerly embraced their inspirational business model. BFG has amassed a wealth of five-star reviews from customers excited about the service and savings they’ve experienced and the impact of their investment.
“Our broking team have all worked in big banks and have a thorough understanding of the lending criteria and process, so you get the best financial outcome for your personal situation while at the same time helping address homelessness and affordable housing issues. So for our customers, it’s a ‘why wouldn’t you’ kind of choice,” Katsande says.
As they work to drive the change, BFG is showing businesses and consumers across all industries a better way forward. “We envisage a future in which every purchase you make, every day – whether it’s your morning coffee or your home – can have a genuine impact,” Philipos shares. “By leveraging people’s mortgages, usually their biggest investment in life, to help those that need it most, imagine the kind of world we would live in.”
If you’d love to own a home one day, you can schedule a 10-minute complimentary chat with BFG here.