Basic Finance celebrating 10 years


Basic Finance staff, from left, Assistant Manager Gary Hayes, Manager Cathy Calhoun, Cashier Judy Bolen and Loan Associate Scott Woodle, are seen in front of the banner announcing the company’s 10th anniversary in Elkin.

Ten years ago today, Basic Finance, Inc. opened its office at 262 E. Main St. in Elkin.

Manager Cathy Calhoun said the finance company will be celebrating its anniversary today from 10 a.m. to 5 p.m. with hamburgers, hot dogs and door prizes. Among them are a gift card from Walmart, tickets to Friendship Speedway, a gift certificate for a free car wash and a backpack leaf blower.

“Everyone is welcome,” she said.

Calhoun, who has been with Basic Finance Company, for almost seven years and at the Elkin location just more than two years, is joined by Assistant Manager Gary Hayes, Loan Associate Scott Woodle and Cashier Julie Bolen in offering business and personal loans from $500 to $7,500 to customers.

Basic Finance, Inc., sometimes referred to as BFI, makes applying for loans fast and easy, Calhoun said. “You can come in and if you’re approved, you can walk out with your money right then and there,” she said. “And if we deny them, it’s also with a handshake and a smile. We try to treat all customers alike, and we want to be here for years to come.”

The finance company was started by Tim Lyon, who passed away last August, and Robert “Pete” James, who served as deacons together at a church in Alexander County. They began meeting in February of 1999 to talk about opening a finance company that would serve the needs of their community.

Both of them strong Christians, Calhoun said Lyon and James wanted their business to focus on honesty and integrity, reflecting their religious values. “On Sept. 29, 2000, their prayer became a reality as they opened their first office in Taylorsville,” she said.

More offices were opened over the years in North Wilkesboro, Elkin, Jefferson, Rockingham, Shelby, Wadesboro and Red Springs. Calhoun said Basic Finance now serves more than 21,000 customers on a monthly basis.

Lyon’s daughter, Jill Scott, has taken over her father’s half of the company as James’ partner.

Calhoun said Basic Finance employees’ goal is to establish a business relationship with each customer. “We want to meet their financial needs by creating the opportunity for them to establish credit,” she said, “and to build a customer relationship with them so they will continue to borrow funds in the future as the need arises.”

Basic Finance, Inc. has become known for its special logos on the office’s entrances, Calhoun said, listing daily operating hours, displays for golf on Saturdays and church on Sundays. “They remind us to enjoy the lives we’ve been given and continuously serve our Lord and Savior.”

Regular business hours for Basic Finance in Elkin are from 8:30 a.m. to 5:30 p.m., Monday through Friday. For more information, call the finance company at 336-526-3400.

Kathy Chaffin may be reached at 336-258-4058.

Elkin Tribune
comments powered by Disqus