CleanStart BC is a social enterprise focused on building an inclusive local economy. They provide junk removal, pest control, and cleaning services to non-profit housing groups, property management companies, construction companies, and residential clients. CleanStart hires, trains, and supports individuals with self-identified barriers to employment, such as poverty and disability, that tend to reside in Vancouver’s Downtown Eastside neighbourhood.
Focus Area: Employment for marginalized individuals (SDG 8.5)
Deal size: $35,000 impact-adjusted loan and $80,000 bridge loan
When CleanStart approached the Vancouver Propel Impact Fund, they were looking to grow their organization by expanding into new service offerings and new geographic regions. Given that they are a social enterprise, traditional investors overlooked the opportunity to invest in CleanStart’s expansion.
The Vancouver Propel Impact Fund team provided CleanStart with a low-interest loan with impact-adjusted returns conditions. Every quarter, the team tracks agreed upon impact metrics. As CleanStart hires more individuals with self-identified barriers to employment and increases the number of women in their workforce, the interest rate on the loan decreases.