
If you didn’t see “Bank of Dave” last night on Channel 4, I suggest you try to watch it as soon as possible.
This was the story of Dave Fishwick, owner of David Fishwick Minibus Sales, the largest supplier of new and used minibuses in the UK. Businessman, Burnley man and soon to be “bank” manager, Dave is sure to become one of those reality TV stars we see a lot more of. Why? Well, for one thing, Dave’s a straight talker. “The banks are shit,” he says. Dave doesn’t do sitting on the fence, but he does have his reasons. Back in 2008-2009 when the credit crunch hit, Dave saw many of his customers ready and willing to buy vehicles from him but unable to access the finance they needed to do so. Knowing these customers well, he decided they could afford to borrow the money they needed and started lending it to them. When this worked, Dave realised he could also help other businesses in Burnley that couldn’t access the finance they needed.“I want to speak to Mervin King, he owns the Bank of England”
It quickly became clear to Dave that setting up a bank would not be simple. It would require a banking licence and a vast amount of cash (£10m was mentioned) in order to safeguard depositors. Fortunately for Burnley businesses and the film crew, Dave would not be put off. He began to establish a presence on the Burnley high street and was soon employing staff. “Rule number one,” he tells his employees, “is never lose money. Rule number two, never forget rule number one.” As the show went on, we as an audience were coming to understand the common sense, enthusiasm and hard work that had brought Dave Fishwick to where he is today. Dave’s opportunity to get up and running came when his application for a consumer credit licence arrived. While not a banking licence, this did give him the opportunity to start lending.Share this story