Party Pants Ltd

Introduction

Eilidh Gibson, a Glasgow School of Art graduate, aimed to revolutionise the fashion industry with her brand, Party Pants. Frustrated by the lack of trousers that fit well and reflected her style, she took matters into her own hands. With her design flair and self-taught sewing skills, she began creating trousers adorned with quirky trims like frills and tassels. The positive reception to her creations led to the birth of Party Pants.

While working in her full-time job, Eilidh pursued her passion on the side. She wanted to simplify the process of finding the perfect trousers amidst a sea of fast fashion options. Her first collection featured three styles, designed to fit different body shapes, with plans to expand.

Sustainability at the Core

Unlike big fast fashion brands, Party Pants takes sustainability seriously. Eilidh carefully chooses materials that are durable and eco-friendly, and she makes sure the trousers are made locally to reduce their carbon footprint. She plans to offer a service where customers can swap out trims to keep their trousers fresh and in style for longer.

Securing business loan in Scotland

Eilidh approached DSL Business Finance to secure a loan. She was assigned a dedicated loan officer, Iain Burnside, based in Edinburgh. Her goal was to obtain funding for Party Pants’ startup costs, with Eilidh also contributing funds from her personal savings. These funds were used for capital expenditure on pattern cutting and grading, branding, and working capital.

DSL Business Finance a delivery partner of the British Business Bank Startup Loan programme, processed Eilidh’s her loan application successfully. This enabled her to turn her passion into a thriving business. This financial support not only helped her bring Party Pants to life but also showed that there is a demand for sustainable fashion.

Success Factors in obtaining Business Loan

Eilidh Gibson’s success in obtaining a loan from DSL Business Finance can be attributed to several key factors:

• Robust Business Plan: Eilidh presented a comprehensive business plan outlining Party Pants’ vision, target market, marketing strategies, and financial projections, demonstrating thorough preparation and potential for success.
• Passion and Expertise: Eilidh’s background in product design, coupled with her personal journey in creating Party Pants, showcased her passion and proficiency in the fashion industry, instilling confidence in DSL Business Finance regarding her ability to execute her vision.
• Financial Stability: Despite launching Party Pants as a side hustle alongside her full-time job, Eilidh demonstrated financial stability and responsibility, reassuring DSL Business Finance of her ability to manage the loan.