Bank of Dave: The Loan Ranger has been a smash hit on Netflix, with the second episode featuring Dave Fishwick (portrayed by Rory Kinnear) taking on predatory payday lenders. The series draws inspiration from the real-life story of Dave Fishwick, a 53-year-old entrepreneur hailing from Lancashire.
Fishwick left school at 16 without any qualifications and went on to establish David Fishwick Minibus Sales, which grew to become the UK’s largest minibus supplier. He soon noticed that in the wake of the 2007-2008 financial crisis, major banks were no longer extending credit to his customers.
In response, he set up Burnley Savings and Loans, an independent lending firm that opened its doors in 2011, operating under the catchy tagline “Bank on Dave”.
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BBC)
In 2017, he sought to become a fully regulated UK bank, aiming to offer a broader range of services to a larger customer base. While this is depicted in the series, in reality, the institution is yet to gain official bank status.
As it stands, Burnley Savings and Loans continues its quest to become a regulated UK bank. Speaking to The Guardian, Fishwick revealed that a City expert warned him that using the term ‘deposit’ or claiming to be a bank could land him in jail, reports Lancs Live.
Contrary to the ‘Bank of Dave’ as seen in the series, he actually operates an independent lending company where customers can only deposit a limited sum.
Nonetheless, this doesn’t overshadow the remarkable work Dave has done for his community, having lent over £30 million to those in need.
True to its portrayal in the acclaimed film, the company maintains its commitment to donating all profits to local charities.
The firm’s founder, Dave, excitedly shared on the website the news of a collaboration with the Vulnerability Registration Service; he revealed: “Burnley Savings and Loans will now be able to search the VRS database to find out which of their existing or potential customers are vulnerable, and what their vulnerabilities are.”
He added, “They’ll be able to use this information to adapt their approach appropriately, and communicate with that person accordingly.”
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Tim Merry / Daily Mirror)
Dave expressed his enthusiasm about the partnership, remarking: “Burnley Savings and Loans Ltd are pleased to be associated with the excellent Vulnerability Registration Service, who help protect vulnerable people.”
The financial philanthropist underscored the company’s ethos by stating: “Burnley Savings and Loans Ltd are consumer centric, and as an ethical business, we believe we have a duty to act in the very best interests of our customers at all times.”
From humble beginnings of a three-person team, the company has flourished, expanding into a band of seasoned professionals housed in sleek offices located in Burnley.
Leveraging his visibility in the media, Dave continues to campaign in Parliament for alterations to the banking sector and imparts wisdom to others on how they could enhance their commercial ventures.
Bank of Dave: The Loan Ranger is available to watch on Netflix
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