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Kane Traylor
Owner / President
(Edited January 6, 2024)
I remember the first time I met Chris. He was referred to us by a local company we work with frequently, ECDI. They often reach out to us when their small business clients need help improving their credit scores to secure the funding they need. Chris walked into my office and shared a story that was both troubling and heartfelt.
Chris had entered into a financing agreement with a friend who owned a semi-truck—a deal spanning about 20 years, with a monthly payment of $400-$500. It was affordable for him, and the truck was the backbone of his business, which he had built and maintained for over 15 years. Since the agreement wasn’t through a bank, Chris was exposed to challenges he hadn’t anticipated.
Tragically, his friend passed away, and the financing contract was transferred to the friend’s son, who didn’t share the same goodwill. The son refused to honor the longstanding agreement and gave Chris an ultimatum: pay off the truck in cash or lose it. Chris still owed around $18,000 and didn’t have the funds readily available.
Being a "cash guy" who avoided unnecessary debt, Chris had never established any credit history. Unfortunately, this worked against him when he approached ECDI for a loan to save his business. Without a credit score or history, he was deemed ineligible for the $18,000 loan. Facing this sudden and urgent crisis, Chris was running out of options.
When we sat down, I outlined a plan to get him back on track. The first step was to get him enrolled in credit-building tools to establish a credit history. To my delight, Chris was incredibly motivated and followed every instruction I gave him. This kind of determination is rare and always refreshing to see.
Next, we tackled his collections accounts and late payments. Because Chris had never checked his credit report before, he was unaware of the many collections accounts weighing him down. He was nervous but eager to get started. In the first month alone, Chris saw a dramatic improvement in his credit scores. We successfully removed a $3,000 collections account, which not only improved his debt-to-income ratio but also made him more appealing to lenders.
Over the next three months, we made steady progress, improving his credit scores month over month and clearing nearly all the negative items from his report. It was incredible to witness his transformation. After just 90 days, we sent Chris back to ECDI to reapply with a 790 credit score—and this time, he was approved!
That moment was a turning point for both Chris and our team. It was a reminder of why we do what we do. Chris was able to secure his truck, save his business, and continue doing what he loves to support his family.
Today, Chris is thriving. His business is doing well, and he still checks in with us from time to time, even though he’s not very tech-savvy. He sends kind messages to let us know how much he appreciates the work we did for him. His story is one of the best testaments to the impact we strive to make for our clients