Since its inception, the business has been focused on its goal of serving the financial needs of the community it thrives in. It has put strong importance on the personal service and respect these people deserve while generating the revenue needed to keep the business running. Ben F. Cheek founded the business with a strong commitment to their customers. It has been more than 70 years since he made his first $34 auto loan from his law office in Toccoa, Georgia. The company was initially founded as Franklin Discount Company with capital pooled from loans from local banks, friends and his relatives. It was not until 1983 that it adopted its current name.
From its auto loan services, the company slowly expanded their offerings starting 1948 with their insurance services beginning with Credit Automobile. In 1950 they added investment securities to their portfolio and 6 years after started operating the Credit Life and Accident & Health insurance. The growth of the business was pretty dramatic and they have seen their performance go up steadily until 2005. During this year, the business encountered difficult times because of Hurricanes Katrina and Rita, which badly damaged several of their offices. Their Bay St. Louis, Mississippi branch was the office that got completely destroyed, which forced the business to reopen in a new location.
The company is now strongly focused on providing loans to their customers. These loans range from personal to auto repairs, from home improvements to debt consolidation. 1st Franklin Financial Corporation services their clients from their 275 offices in six states and whatever financial needs their customers, they almost always have a solution for it.
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