Saint John Business’ New Program Lets Customers Direct Donations
SAINT JOHN–Local soap maker Bubbles And Balms has launched a new program that rewards its customers for helping it do good.
In collaboration with impact fintech company +Purpose and Kaléidoscope Social Impact–formerly the Saint John Community Loan Fund–customers will get invisible investable dollars.
It is through a lending mechanism where money can be invested into high-impact organizations from local markets, or around the world, that are focused on food security, affordable housing, or basic medical care.
Justin Sweeney, co-founder, Bubbles And Balms, says customers also have the chance for five percent of every purchase to go into Kaléidoscope Social Impact.
“And what happens after about year, these investments get paid out and it goes back as rewards dollars to the customer that purchased it in the first place, so it is a reward program, but it’s a little bit delayed,” he said.
Sweeney added Bubbles And Balms has been working with +Purpose for roughly three to four months to get the program developed.
A release from all organizations involved in the collaboration added the program is a new way for brands to do good, which goes beyond making donations to a cause of the brand’s choice.
“Brands exist because of their customers. Those customers all care about different kinds of impact. +Purpose is the simple idea that the people spending the dollars should get to do the kind of good they care about,” said Taylor Scobbie, CEO of +Purpose, in the release.
“Doing that through investing rather than donating means we get to take more dollars, do more good, and give them back to customers for making the whole process possible,” added Scobbie.
Tim Herd is a reporter with CHSJ/Country 94, Huddle content partners.