Wash Cycle Laundry, a dynamic new company that does all of its laundry pick-ups and deliveries on bikes, is a model welfare-to-work company. In addition, it uses clean, green laundry detergent and high-efficiency machines. With coverage throughout most of center city Philadelphia, WashCycle’s business has taken off quickly.
Wash Cycle Laundry won Philadelphia Magazine’s “Best Laundry Service 2012” readers’ choice award!
In 2013, Wash Cycle has picked up a large government contract which it is fulfilling beautifully. It’s now expanding to Washington, D.C. with other cities on the horizon.
We supported Wash Cycle early with a loan in 2012, and have issued a bridge loan in 2014 to support their expansion. And expand they have! In 2014 alone, Wash Cycle Laundry has opened operations in Washington DC and Austin, grown from seven employees to 48 since we made the first loan three years ago, and attracted major equity investors to support its expansion.
Among many accolades, Wash Cycle Laundry has been recognized with Sustainable Business Network’s Visionary Entrepreneur Award, Best of Philly, and the Greater Philadelphia Chamber of Commerce’s Excellence Award.