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
Year: 2019
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.
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