So when I came to ThinkCash (then PayDay One) in January 2006 most of my friends/colleagues were surprised. Why would I leave Blockbuster Online and a very high-level, well-respected position in a fast-growing entertainment company to go work for a “payday loan company”. There were several factors. One was Kevin and the trust/respect I have for him. Another was the opportunity to truly change the paradigm in an industry. I know that’s kind of a “cheesy” buzzword/phrase, but it’s true. I was impressed with the ideas Ken (our CEO) and Kevin had for creating a company that helps consumers with their emergency cash needs, but does so in a fair and balanced way (unlike most traditional payday lenders).
I feel like we are really making progress towards that goal. One huge step was the launch of ThinkCash. We truly built ThinkCash from scratch (the name, logo, website, look/feel, product attributes, etc.) and customers are loving it. It truly is a better alternative for consumers and we literally help 1,000’s of people everyday with their very real financial problems and emergency cash needs. We get a lot of thank you emails from our customers and I try to read some every now and to remind myself of the positive difference we make in people’s lives. Below is an example of one such email:
“I have been threading water with my finances over the last 3 months. A series of unforeseen events really put me behind the eight ball September 2007. I was behind on a few bills and rent was due by the next day (5th). I was broke and would not get paid until the 7th. I am a proud and private person so borrowing from family and friends is not going to happen. My business is just that, mines. I have been banking with that popular national bank that has a logo which resembles the US flag for 7+ years. Guess what happened when I needed them most? 3-4 months of financial hardships outweighed 7 years of good credit standing. They would not approve me for a 500 loan citing my credit rating (I do admit being late on two cards). However, I am the perfect customer for 7 years; I take a stumble and its sorry can’t help you. I google for “loans” and thank God I clicked the link that later led to me getting 750 that I really had to have. I needed the money so bad. If you ever been in a tight situation you know the feeling of relief I am feeling right now. ThinkCash saved me. Thank you, C.”
We are in an industry that takes a lot of heat (much of it deservedly so based on the practices of our competitors), but we are doing what we can to help a huge segment of our the population that has been ignored by traditional financial institutions. It’s not just about making money, it’s also about helping people with problems and treating our customers right . . . otherwise I wouldn’t be here.