The Development Bank of Wales is a unique resource for Welsh businesses.
It has been set up by the Welsh Government to make it easier for businesses to get the finance needed to start up, strengthen and grow.
Its goal is unlock potential in the Welsh economy by increasing the provision of sustainable, effective finance in the market.
The Development Bank of Wales can support Welsh businesses in the following ways:
- Loans from £1,000 - £5 million to start, strengthen or grow your business
- Seed finance for pre-revenue tech start-ups
- Finance up to £5 million to buy a business (business owners and management teams)
- Co-investment alongside banks, crowd funders, grants, investors and other lenders
- Equity investment form £50,000 to £5 million for established business
- Equity investment for early stage and mature technology-based businesses
- Property development loans for projects in Wales
C A S E S T U D Y
Tatami Fightwear Port Talbot
Sportswear business Tatami Fightwear (Tatami) was founded in 2009 by friends Lee Jones and Gareth Drummer.
The pair met when Lee took his children to train at a local Brazilian Jiu Jitsu club where Gareth was a coach. Frustrated by a lack of stylish and comfortable clothing available for Brazilian Jiu Jitsu fighters Gareth and Lee decided to start their own company producing suitable fight wear for the UK market.
Tatami now sell their sports clothing to fighters across the UK and Europe. All from their Port Talbot base.
In 2016, the Development Bank of Wales supported them with a loan to boost their business. The loan was to buy additional stock and a new embroidery machine. Being based in an enterprise zone they were able to benefit from reduced interest rates.
“Investing in Port Talbot was really important to us,” explained Lee.
“The fact that it led to an interest rate reduction on our loan was a massive bonus. Being in an enterprise zone has made our growth plans more affordable, allowing us to invest more directly into our business. Our products are selling well, we’re growing year-on-year. It’s great to be able to start and grow a thriving business in our home town.”
C A S E S T U D Y
Comtek Network Systems UK Limited has grown from a one-man-band computer repair business to a pan-European provider of repairs, spares and support to the telecoms, datacoms, and network service industry.
Based on the Deeside Enterprise Zone, Comtek now employs 70 people to manufacture cutting edge fibre optic transmission products. Clients include telecom carriers and data centre providers across North America and Europe.
Chief Executive Askar Sheibani , who describes himself as a serial entrepreneur, said:
"Successful business depends upon strong leadership, a can-do attitude and readily available finance. Our area has enormous potential with lots of high growth, high tech organisations that are thriving.
We have been consistently impressed by the support available and are very grateful to the team at the Development Bank of Wales for their investment in our business which has helped us to further develop our product offering whilst also creating additional highly skilled and well paid jobs in Deeside. What's more we have been able to benefit from reduced interest rates because we are based in the Enterprise Zone."