Review on Development Bank of Wales by Olugbenga Ajayi
The development bank of Wales is impacting Welsh economy
The development bank of wales is working according to its name: it is developing the economy of Wales and the UK by funding seed stage, early stage and late stage entrepreneur. It also provided funds for mortgage, supporting both private and public enterprises. As a result of this, the economy of wales is impacted by helping to create jobs through these funded entrepreneurs, who also pay their taxes.
It is opened also for coinvestors to harness the opportunity to find a viable investment. The bank is well regulated by the financial body of Wales and it is well grounded financially. It is managing above £1bn and entrepreneur can access between £1,000 - £5,000,000. Thats huge one will say. However, every applicant must meet up with certain criteria including provision for some percentage of the equity required.
Pros
- It is a bank for funding bith public and private enterprises
- It deals with entrepreneur at different stages and levels
- The loan or grants accessible is huge
- It has large capital base
Cons
- Some percentage of the equity required is needed
