Laundry efficiency company aiming to clean up with funding deal
A Queens Award-winning laundry efficiency specialist which helps businesses implement more eco-friendly washing systems is expanding after it secured a £120,000 funding package.
Clear Three, based on Ranton Park, Cannock, secured funding from the Community Investment Enterprise Facility (CIEF) managed by BCRS Business Loans, and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
Funding will enable Clear Three to continue to innovate, strengthen and expand its consultancy services and look to diversify its technology into new markets.
Established in 2017, Clear Three encourages business owners to reduce waste, pollution and the excessive use of natural resources via a mix of consultative support and eco-friendly washing systems.
In 2021 Clear Three was awarded the Queens Award for Enterprise: Sustainable Development for their outstanding commitment to tackling environmental issues within the laundry supply chain.
Clear Three CEO Colin Oakley said: “After securing funding from BCRS we will be able to use the fund to recruit an additional two people and secure the future of six existing members of staff.
“The investment fund will allow us to not only recruit additional roles but will enable us to branch into new markets and continue to develop new products.
“The loan application process with BCRS was very simple and straightforward. Tracy from BCRS came to meet us, took a tour around the factory and is always on the other end of the phone if we have any questions.”
Tracy Sherratt, a senior business development manager at BCRS Business Loans, said: “We are so pleased to have delivered the funding that Clear Three need via the CIEF Loan Fund in order to achieve their growth plans.
“As a lender that delivers funding for intentional social and economic impact, it is great news that additional jobs will be created by Clear Three.”