About Dave Cherry, Guernsey
Cherry Godfrey was founded by Dave Cherry and Selena Cherry (nee Godfrey) who had both met whilst working together at The Associates, now the giant Citi Bank.
Dave Cherry was born in Guernsey and returned to the Island in 1990 to take up the role of Guernsey Managing Director of the consumer finance company The Associates and at this time Selena Cherry was a Director of the Guernsey company Channel Scientific owned by her parents.
Going against all advice but with the full support of Selena and their 12 month old son Jacob, their newborn daughter Tansy and their thumping great mortgage Dave Cherry gave up his well paid job and started Cherry Godfrey Associates in their front room. Dave armed with his very comprehensive business plan was rejected by 4 banks before finally one finally agreed to give him an overdraft. He wasn't surprised that the banks weren't keen on giving him money for a new finance company as he felt it was a bit like Turkeys voting for Christmas but Dave Cherry knew he could deliver good old fashioned local service to his customers which was something the banks had lost sight of. The next problem was coping with its very early success as they had turned over £228,000.00 in their first month. The bank manager was not impressed however and advised that the banks head office wanted the account closed as it didn't want Finance Brokers on its books. There followed another round of bank visits before finally agreeing terms with the bank they are still with today. Then a real major problem arrived. Tansy their baby daughter was taken very ill and they had to get an emergency flight to Southampton, at Southampton General Hospital Tansy underwent life threatening surgery and the family remained there for 2 months until she was well enough to travel back to Guernsey. During that time Dave Cherry was trying to run the fledgling business from a cell phone in the Hospital grounds and flying back to Guernsey for 2 days a week to try and drum up business. It was during this time they got their first real break a school friend of Dave's phoned up and said he wanted him to finance some cars how many Dave asked expecting to be told one or two. One hundred and twenty was the reply. Dave Cherry syndicated the debt and Cherry Godfrey was definitely on its way.
David Cherry