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World Finance history
World Finance company history timeline
1962: World Finance is founded with four offices in Greenville, South Carolina.
World was managed profitably and expanded slowly and by 1973 the company operated 54 offices in South Carolina, Georgia, and Texas.
In 1973 Southern Bank, also of Greenville, acquired World.
While return on investment was lower overall, compared with 1978 banker interest rates of approximately 7 percent, the lower rate obtained by Southern minimized the “squeeze” on investment.
In 1979, when interest rates reached a historical peak, Southern Bank obtained money for lending at 9.95 percent interest, lower than national rates.
In 1980 the State of Oklahoma granted World a charter to operate and over the next two years World opened six offices in Oklahoma.
When First Union Corporation of Charlotte, North Carolina, merged with Southern Bank in 1986, the company operated 143 offices in five states.
1989 Management Buyout Serving to Renew and Accelerate Expansion
World recorded $44.6 million in loans receivable, an increase from $38.4 million in 1989 when the management buyout process began.
1993: World acquires ParaData Financial for its proprietary finance software.
At the close of 1996 the company operated 282 offices, including the addition of 17 new offices opened that year.
In 1996 ParaData completed its largest project to date, the conversion of Mercury Finance, one of the largest financiers for used automobiles in the United States, to ParaData’s proprietary software.
In fiscal 1997 World added 54 offices through acquisitions and new locations.
In 1998 World reported $8.1 million in net income from $80.6 million in total revenues.
The company opened 26 new offices over the three-year period, operating a total of 441 offices at the close of fiscal 2002.
By 2003, tax preparation revenues reached $4 million.
"World Acceptance Corporation ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/world-acceptance-corporation
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World Finance competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Community Loans of America | 1994 | $730.0M | 3,000 | - |
| Security Finance | 1955 | $6.4M | 75 | 280 |
| Advance America, Cash Advance | 1997 | $1.9B | 7,500 | - |
| Sun Loan | 1988 | $860,000 | 50 | 20 |
| City Finance Corp. | - | $360,000 | 7 | - |
| Southland Group | - | $6.6M | 20 | 10 |
| Regional Finance | 1987 | $82.0M | 3,000 | 212 |
| Sunbelt Holding Inc | 1934 | - | 1,461 | - |
| EZ | 1989 | $1.2B | 6,500 | 338 |
| Check Into Cash | 1993 | $590.0M | 1,347 | - |
World Finance history FAQs
Zippia gives an in-depth look into the details of World Finance, including salaries, political affiliations, employee data, and more, in order to inform job seekers about World Finance. The employee data is based on information from people who have self-reported their past or current employments at World Finance. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by World Finance. The data presented on this page does not represent the view of World Finance and its employees or that of Zippia.
World Finance may also be known as or be related to World Acceptance Corp., World Acceptance Corporation, World Acceptance Corporation (WRLD), World Acceptance Corporation (wrld) and World Finance.