- Loan Successfully Funded On 17 Sep 2024 ​
Beacon Laundry: a Planet and People-first Laundry
Beacon Laundry
- Bangalow, NSW, Australia
Menu
- 77,500 AUD
Loan successfully funded
Beacon Laundry is a social enterprise commercial laundry focusing on creating employment opportunities for disadvantaged job seekers in Northern New South Wales. Launched in January 2024, Beacon employs over 50 people at any one time to service Byron Bay’s hotel industry. The loan will enable the laundry to become the first and most environmentally sustainable laundry in Australia by covering the cost of a full solar panel installation, a heat exchanger and an upgraded water collection system.
- 13 Lenders
Committed
- 36 months
Loan Period
- 8%
Interest Rate
- BACKGROUND
Loan summary
This loan is part of the capital raise campaign managed by the intermediary. To date $12m has been raised with a further $1m required to fund equipment to decrease the operations CO2 emissions (solar panels and heat exchanger) and additional working capital.
Borrower's mission
Beacon Laundry started its operations in January 2024 with the employment of 60 disadvantaged job-seekers. The laundry is expected to reach financial sustainability in FY26 with commercial income to reach $7.2M with an EBITDA at $1.6M.
The activities funded by this loan are helping to achieve the above Sustainable Development Goals as defined by the UN.
Intermediary's experience with impact enterprises
White Box Enterprises works with social enterprises, government, investors and philanthropists to build, support and advocate for large-scale jobs-focused social enterprises in Australia. In its first 5 years, White Box has launched 4 social enterprises, supported the creation of over 800 jobs, co-hosted the Social Enterprise World Forum in Brisbane in 2022, raised more than $25m of capital for social enterprise projects and is managing the first National Payment by Outcomes trial with Government for social enterprises.
- IMPACT
Impacts and how they are measured
The loan will contribute to significantly reducing Beacon Laundry’s energy consumption which will result in lower CO2 emission levels, less water usage and cost savings.
Ready to lend?
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