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Wash Cycle Laundry
Chelsea, MA
United States
Wash Cycle Laundry services the travel industry, and revenues dropped 96% during the pandemic. As sales recovered in 2022, liquidity remained perilously low, but the company did not qualify for working capital financing. MHIC’s MBE Contractor Financing Program provided below-market funds that transformed the business, resulting in record growth and profit.
Sponsor
Social enterprise Wash Cycle Laundry puts people with high barriers to employment on a path to economic mobility
Source
MBE Contractor Financing Program
Financing Total
$3,000,000