Jessica took out a Start Up Loan to develop her business, Baggers Originals.
McLean graduated from Northumbria University in 2007 with a degree in Fashion Marketing. After gaining some entrepreneurial experience, Jessica decided to take the plunge and set up Baggers Originals. Baggers Originals sells adaptations of fun, fashionable practical rainwear sets for children that her Mother sold when Jessica was five. Jessica knew how popular her Mother’s creations were and was confident that she could re-create this buzz by producing rainwear and swimwear sets for children and adults.
After undertaking a great deal of market research, Jessica was at the stage where she was in need of funding to develop Baggers Originals. Jessica first turned to banks in a bid to obtain a business loan. Baggers Original’s loan applications were repeatedly rejected due to the fact she was a start-up with no assets to secure the loan against. After looking into alternative funding options on the internet, Jessica came across The Start-Up Loan Company and applied for a loan through Delivery Partner PNE, and successfully secured £2,500 funding.
Jessica had been in talks with angel investors and since securing the Start-Up Loan and being able to demonstrate the support and avenues that The Start-Up Loan initiative can offer, Baggers Originals have now secured a £100,000 investment to launch Baggers Originals.
The company now employ four staff and has already secured an order from a major global retailer which will be fantastic to raise brand awareness. In March 2014, they also secured an order with Monsoon, this is the first time the high street chain has stocked an outside brand in its 40 year history.