Christopher Lynn
Orange Beach, AL (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Team Green Recycling
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Startup
Location:
Orange Beach
Industry:
Manufacturing
Year Founded:
2008
Number Employees:
1-10 people
Description:
Municipal Solid Waste (MSW) Recycling Company. Awarded exclusive contract to process 400 tons per day of MSW at landfill. MSW delivered at $0 cost, we separate, then sell recyclables (aluminum, plastics, glass, metals & paper) at market rate to local users who take delivery on site. Ten acre processing site provided & prepared by Municipality.
Key Funding Items:
1. Initial Lender/Investor/Guarantor:
$100,000 Convertible Loan and SBA Loan Guarantee
2. Startup period (pre-revenue) 1/09 to 6/09:
$328,000 SBA backed bank loan (lender identified)
3. Recycling Equipment (designed & bid) installed 5/09:
$1,800,000 via equipment lease (leasing co. id'd)
4. Processing Structure & Loading Dock completed 4/09:
$500,000 via facilities loan
Key Financial Metrics starting 7/09 (current market pricing):
1. Revenue: $454,000/month $5.45M/year
2. Expense: $245,000/month $2.94M/year
3. EBITDA: $209,000/month $2.51M/year
Substantial growth projected from increased recovery rate (current projections at 40% - national average is 55%), as well as planned large annual increases by municipality in MSW daily tonnage deliveries.