When people ask me what we offer at the Development Bank of Wales, I always start by explaining what makes us different. But what sets us apart isn’t just the loan – it’s the support that comes with it.
Our micro loans of up to £100,000 are designed for start-ups and small businesses across Wales, offering fixed interest rates and no arrangement or early repayment fees. That certainty and flexibility matters, especially for businesses that are just starting out or trying to grow.
Every business we support has a dedicated investment executive – someone who guides our customers through the process, from initial enquiry to repayment. It’s a personal relationship, not just a transaction. We’re not a faceless website. We’re on the phone, we’re out in communities, and we’re based in offices across Wales. That means we understand the specific challenges and opportunities in different areas, whether that’s Cardiff, Wrexham, Llanelli, or somewhere in between.
We know that many of the businesses we work with are applying for funding for the first time. It can be daunting, especially for founders who are wary of taking on debt. That’s why we take the time to explain how it works, break down the costs, and make sure that it’s the right option. And if the timing isn’t quite right, that’s OK too. We often see people come back to us months later, when they’re more confident in their plans.
Our role doesn’t stop once the loan is agreed. Businesses stay in touch with their portfolio manager, sometimes over many years. They’re invited to events, introduced to useful contacts, and supported through any bumps in the road. Because of our strong partnerships, we can also refer businesses on to services like Business Wales or other local support networks. It’s all about helping people access the right combination of guidance and funding at the right time.
We regularly run funding clinics with local authorities, which are a great place for people to explore what’s available in a low-pressure setting. We also signpost businesses to peer networks – something I believe is vital. Hearing directly from others who have taken on finance, who’ve grown their business, and who’ve faced similar challenges, can give people the reassurance they need to take the next step.
Of course, there are always practicalities. We’ve made the application process quicker and easier, with digital signing and straightforward paperwork. Some customers have been able to go from application to drawdown within a matter of days. But speed isn’t our only focus – what matters most is that businesses feel supported and understood throughout.
We want to see thriving local economies across Wales. That means making it easier for businesses to access the tools they need, whether that’s funding for equipment, stock, or staff, or simply a conversation with someone who gets what they’re trying to achieve.
My advice to any business owner considering their next move is this: don’t rush into anything. Take the time to understand your options and build a strong support network around you. And if you’re not sure where to start, get in touch with us. We’ll listen, we’ll guide you, and we’ll help you find the right path for your business.
Listen to Nicola discuss micro loans on the Development Bank of Wales podcast HERE
To find out more about micro loans from the Development Bank of Wales visit: https://developmentbank.wales/micro-loans-wales
