Sustainability firm secures £120k growth funding

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.

Colin Oakley, Graham Oakley and Tracey Sherratt
Colin Oakley, Graham Oakley and Tracey Sherratt

Clear Three, based on Ranton Park, Cannock, secured funding from the Community Investment Enterprise Facility managed by Wolverhampton-based BCRS Business Loans, and backed by the Coronavirus Business Interruption Loan Scheme.

The funding will enable Clear Three to continue to innovate, strengthen and expand its consultancy services and look to diversify their technology into new markets.

Established in 2017, Clear Three encourage business owners to reduce waste, pollution and the excessive use of natural resources via a mix of consultative support and eco-friendly washing systems.

Last year 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 chief executive 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.”

Alastair Davis, chief executive at Social Investment Scotland, said: “Congratulations to the team at Clear Three on securing this investment to support their growth plans. The CIEF was established with businesses like this in mind and our team wish them every success for the future.”

The Coronavirus Business Interruption Loan Scheme was managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. The scheme ended on March 31 and has been replaced by the Recovery Loan Scheme.

Businesses in the West Midlands region that are struggling to access finance from traditional lenders can secure loans from £10,000 to £150,000 from BCRS Business Loans to support growth and recovery plans. BCRS is a delivery partner for the Recovery Loan Scheme.

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