Thursday 22nd March 2018
MPA Young Gun broker Nathaniel Nhan Truong gives one-tenth of his brokerage’s turnover to charitable causes, come rain or shine
“GROWING UP you always want to make a difference,” says Nathaniel Nhan Truong, “but you don’t always know how.” For brokers who are interested in charitable and community work but lack speciﬁ c skills, this is a major barrier. It’s a question Truong asked himself when considering what do after a corporate career at ANZ and CBA. “I thought, ‘What am I good at? I’m good at ﬁnance; I’m good at lending.’ That’s when I came up with the tagline ‘Finance a difference’.”
Truong’s brokerage, the Loan Lounge, takes this ethos literally: the brokerage gives 10% of its upfront and trail commission to charity, year-round. With Truong an MPA Young Gun now writing $6–8m a month, that 10% has become quite substantial. And although many brokers make charitable donations, giving a set amount is still rare.
Funds from the Loan Lounge go to two charities, A21 and The Freedom Hub, which help survivors of human trafficking and slavery. It’s a cause Truong is particularly interested in. “I can get very in-depth stats on what the money does,” he says. “For example, if we give $500 that means the survivors get one term in the survival school … it’s about helping individuals recover from trauma, learn about Australia, integrate them and prepare them for the workforce so they can get back on their feet.”
Clipping 10% from your turnover seems daunting, Truong says, but “I would say give it a go before you dismiss the idea”. Giving regularly isn’t just a good habit; Truong believes it’s changed his approach to business. “When you work with that sort of mentality you always look for innovation, for ways to improve your business, and you work with what you have and what’s in your hand.”