The husband-wife owners of Borrow This celebrating their 1,000 franchise being opened in the USA.
Let’s discuss this brilliant franchisor. Jamie Lynn Banks was always at “the head of her class”, according to longtime friend, Tammy Faye Taker. Tammy tells Franchise Follies that Jamie was “always the one who was willing to pretty much try anything.” Tammy goes on, “Yep. Jamie was not what one would call, shy. She always had several boyfriends, wore the nicest clothes, and drove fine cars. Jamie was used to the best things in life, and always seemed to have them.”
Jamie graduated Summa. {In Arkansas, Summa means Summa people graduate, and Summa people don’t} She then tried her hand at the Middle Arkansas Tech School {Nail Technician school}, but failed miserably. She did however meet her future husband, and school headmaster, Daryl Roller, which turned out to be a home run for Jaime.
Daryl ended up bankrolling Jaime’s business idea…”a loan brokerage where anything goes,” Jaime would later tell Franchise Follies. “Pretty much anyone who was able to breath and fart on their own would have their loan requests accepted, and with very reasonable interest rates, too,” she said.
The loan business was really growing, and a franchise development company by the name of Franalot approached her to “franchise” her aggressive idea. Jaime and Daryl had a lengthy discussion, and decided to go ahead with it.
They decided on the name of “Borrow This.” To them, the name was a one finger salute to all the naysayers who told them that they were crazy to give people loans that probably were not qualified. {Since aggressive loan practices like that were never adopted by traditional banks and mortgage companies, the couple was looked upon as pond scum, “who would get theirs!”}
With the current US economy doing so well, their franchise has really taken off. It is doing so well {It has grown to 1200 franchises in the last year!} traditional lenders and mortgage companies are starting to look at the Borrow This business model, and are starting to adapt their loan qualification practices to be more in line with what Borrow This has being doing for 3 years now.
William Akers, the CEO of Arkansas Federal Bank Of Alabama said that “This is the perfect loan model. It will always work. It’s not like our bank could ever fail with this new business model.”
Perfect.
For more information on Borrow This, contact:
Paula Paulson, Director of Franchise Dev.
1-800-000-000
{How the heck did they get that great phone number? Maybe they know someone in Congress…}
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