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Tower Loan

Private Accounting - Finance 501 - 1000 Employees

Tower Loan is a leader in the consumer loan industry, with more than 150,000 consumer loan accounts and over 450 team members in over 125 markets. Currently, Tower Loan has over 125 offices in Mississippi, Louisiana and Missouri, with corporate headquarters in Flowood, Mississippi. Working from this base office is a team of corporate leaders and supervisors, as well as Human Resources, Legal, Data Processing and Shipping Departments. Also, Tower has a CCC (Central Collections Center) located in Jackson, Mississippi, as well as a CPO (Central Purchasing Office) that processes and purchases sales applications from our dealers.


Tower Loan is the perfect place to start a career in the fast-paced world of consumer finance. With a history of unprecedented growth, Tower Loan expects to continue growing at a rate of 10-15% per year. This means there is simply no better place to begin your career in the consumer finance industry. As one of the largest independent finance companies in the South, we’re always looking for qualified applicants, and many are offered management positions in as little as 12 months. In fact, the completion of Tower Loan’s formal training program all but ensures advancement and continuing opportunities for financial reward. Each of our locations supports a manager and as many CSR and manager trainees as it takes to service the needs of our local customer base. There is always room for friendly, sales-oriented, self-motivated people in the Tower Loan family. Your advancement opportunities continue beyond your initial branch management promotion. From managing a smaller branch, you could then move to a much larger branch with more responsibility … then on to supervision. At Tower Loan, as you excel, your chances for promotion accelerate. We realize the strength of Tower Loan is directly affected by the strength of each individual within the organization. Therefore, we actively seek out the “best of the best” to join us in our quest for continued growth and prosperity.

Career Opportunities

• Competitive Salary
• 401K
• Incentive Pay (based on monthly performance)
• Paid Holidays
• Comprehensive Health Benefits
• Local Civic Club Membership (dues paid)
• Manager Expense Account
• Company Lodge Access (Lake Bruin, LA)
• Company Condo Access (Gulf Shores, AL)
• Long-Term Disability Insurance
• Annual Bonuses with Quarterly Advances
• Employee Christmas Presents
• Paid Time Off
• Promotion Bonuses (for managers promoted
from your office)
• Incentive Programs
• And much, much more


In 1936, when the consumer finance industry was in its infancy, Tower Loan opened its first office in Jackson, Mississippi. The concept quickly took root, and the company grew and prospered at a fast pace. After World War II, Tower made the decision to sell its offices to various employees within the company.

Jack Lee purchased 12 offices in 1972. By 1983, under Jack’s leadership, the company had doubled in size and began offering credit-related insurance through two subsidiaries, American Federated Life Insurance Company and American Federated Insurance Company.

A series of strategic acquisitions began in 1990 with the purchase of Louisiana-based Reliable Finance, adding 13 offices to the Tower family. Eagle Federal was acquired soon after, followed by four offices of Walthall Finance, then eight offices of Money Mart, Inc. In 1999, Tower purchased Gulfco Finance. The most recent acquisitions include MS Loan Center, Tico and Personal Finance.

Detailed History

The Ed Clark era

The Jackson, Mississippi, South State Street Office of the original Tower group was purchased by Ed and Kate Clark. Under the ownership of the Clarks, Tower Loan brokers grew from a single office to 16 offices throughout Mississippi.

Modern Tower Loan Era

In 1972, after the death of Kate Clark, Jack Lee purchased 12 of Ed Clark's offices. The 4 offices not purchased were sold to managers within Clark's company and are still in operation today. The offices purchased by Jack Lee were located in North Jackson, Clinton, East Jackson, Yazoo City, Canton, Kosciusko, Pascagoula, Louisville, Eupora, Carthage, Moss Point, and Philadelphia. In later years, the Moss Point office was merged into Pascagoula, Clinton was moved to Southwest Jackson; and East Jackson was moved to Pearl. Some of these offices operated as Tower Loan and some operated as Russell Baker Finance.


In 1983, Tower formed two insurance companies for the purpose of providing credit related insurance. American Federated Life Insurance Company was formed as a credit life insurance and credit accident and health insurance company. American Federated Insurance Company was formed as a credit property insurance company, but is also a leading workman's compensation insurance company in Mississippi. These insurance companies are now owned by Tower's parent corporation and are managed by a separate company that is not affiliated with Tower.

Purchases and Openings

After various openings and purchases, Tower grew to have 29 offices in the state of Mississippi, making Tower the largest consumer finance company based
in the state of Mississippi.

On May 1, 1990, Tower Loan made its largest acquisition. Louisiana based Reliable Finance company was sold following the death of its owner and operational leader, Grady Brockner. The acquisition of Reliable spread Tower's lending philosophy into 13 offices in the state of Louisiana.

At the time of this acquisition, the only office still operating as Russell Baker Finance was Vicksburg, Mississippi. Vicksburg's name was changed to Reliable Finance and the Russell Baker name was

Before the purchase of Reliable Finance, First Tower Corp., a holding company, was established to form an umbrella for Tower Loan of Mississippi, Inc.; American Federated Life Insurance Company; and American Federated Insurance Company. ReliableFinance Company was eventually renamed First Tower Loan, Inc. and was added to the umbrella of First Tower Corp
After various acquisitions and office openings in 1991 and 1992, Tower stood at 51 offices. On December 1, 1992, Tower Loan acquired the 9 consumer loan offices of Eagle Federal Savings Bank. This brought Tower to 60 offices.

In July 1997, Tower purchased the 4 offices of Walthall Finance. Then in October 1997, Tower purchased the 8 offices of Money Mart, Inc. In September of 1999, Tower netted 21 new offices after acquiring certain assets from MFN Financial Corporation.

In 2004, Tower made other significant assets, acquiring all of the remaining Mississippi receivables of Tico Finance Company and Personal Finance Company.

Home Office

In addition to the 126 offices, Tower has a corporate headquarters in Jackson, Mississippi. Working from this base office is a team of supervisors, the company's corporate leaders, and corporate office staff consisting of the Marketing Human Resources, Legal, Data Processing and Shipping Departments.


Tower has weathered the storm of high interest rates, recessions, government regulations and truth-in-lending lawsuits. In spite of these obstacles, First Tower Corp. has continued to prosper, advance and become one of the nation's leaders among independent finance companies.


The primary business of Tower Loan is making and collecting consumer loans. Tower accomplishes this through the use of its branch network. Each branch has one manager and numerous cashiers and manager trainees, depending on the number of customers in that branch. Tower Loan also offers sales financing and automobile financing.

Currently, Tower Loan services over 150,000 customers with 500 Tower Team Members.


MISSISSIPPI Amory Baldwyn Batesville Belzoni Biloxi Brookhaven Bruce Canton Carthage Clarksdale Cleveland Clinton Collins Columbia Columbus Corinth Crystal Springs East Gulfport Eupora Forest Fulton Greenville Greenwood Grenada Hernando Hollandale Holly Springs Houston Indianola Kosciusko Laurel Leland Lexington Louisville Magnolia McComb Mendenhall Meridian Natchez New Albany Newton North Jackson Olive Branch Oxford Pascagoula Pearl Philadelphia Picayune Pontotoc Poplarville Port Gibson Prentiss Richland Ripley Rolling Fork Ruleville Senatobia S. Hattiesburg S/W Jackson Starkville Tunica Tupelo Tylertown Vicksburg Water Valley West Point Wiggins Winona Yazoo City LOUISIANA Abbeville Alexandria Bastrop Bogalusa Bossier City Bunkie Crowley Cut Off DeRidder Donaldsonville Eunice Farmerville Ferriday Hammond Hodge Homer Houma Jeanerette Jena Jennings Lake Charles Lake Providence LaPlace Leesville Mansfield Many Marksville Minden Monroe Morgan City Natchitoches New Iberia New Roads Oakdale Pineville Rayville Ruston Shreveport S. Shreveport Springhill Tallulah Ville Platte Vivian West Monroe Winnfield Winnsboro MISSOURI Carthage Caruthersville De Soto Farmington Fulton Kennett Lebanon Neosho Nevada Perryville Poplar Bluff Rolla Sedalia Sikeston Warrensburg Washington


The primary business of Tower Loan is making and collecting consumer loans. We have used our branch network to successfully build the financial force that Tower Loan is today. A growth-oriented company, Tower believes that the strength of each individual within the organization directly affects the strength of the company. As such, we actively seek out the “best of the best” to join us in our quest for continued growth and prosperity.

Tower also believes that as the company prospers, so should those who helped bring about that prosperity. You will be rewarded for your contributions … and you will see those rewards quickly.

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