Allan Jones

William Allan Jones Jr. (born December 31, 1952) is an American businessman from Cleveland, Tennessee.

He is the founder, chairman and CEO of Check Into Cash, Creditcorp, Jones Management Services and the Community Financial Services Association, and several other local lending agencies.

He has been called the "father of the payday loan industry" for founding and building the first major payday loan chain.

Jones was born on December 31, 1952, in Cleveland, Tennessee to William A. (Bill) Jones (1919–1981) and Virginia Slaughter Jones (1925–2003).

He was the first baby to ever be born at Cleveland's Bradley Memorial Hospital.

The company, known for its "Sewn in the South" slogan and renowned during the 1960s for making the world's best Blazer, was facing bankruptcy when Jones acquired it.

Jones has said he was attracted to Hardwick Clothes because it was the oldest business of its kind in America, and is convinced that the American consumer pendulum is swinging back to "made in America."

Within weeks of purchasing Hardwick Clothes, Jones named Bruce Bellusci, former executive vice president at Hart Schafner & Marx, the company's new CEO/president.

He also recruited Hart's designer, engineer, and three top salesmen to Hardwick.

He graduated in 1972.

Jones credited wrestling with helping build character: "In wrestling, I didn't have anyone to rely on but me."

He declined wrestling scholarships to pursue a business degree at Middle Tennessee State University.

Jones left college at age 20 to help his father stabilize the family's small business, the Credit Bureau of Cleveland.

He purchased the business from his father in 1977 and developed it to become the largest privately owned credit bureau databases in the state, covering 63 counties.

Hardwick Stove was absorbed into Maytag in 1981.

In 1984, Jones' daughter, Abby, was the first baby born at the hospital's new Women's Center.

Jones donated the first Mother's Garden at the hospital in honor of his mother, wife, and daughters.

Jones attended Cleveland High School, where he wrestled and won various awards and served as team captain.

Jones sold the credit reporting side of the business to Equifax in 1988, although he retained the name and the company's collection agency division.

He then built the company to be the largest in Tennessee with offices from Memphis to Atlanta.

Jones founded Check Into Cash in 1993.

The idea arose from him seeing a former credit bureau manager who was operating out of a small service station and cashing checks with the agreement that the owner would hold the checks until the next payday before submitting them to the bank.

Check Into Cash eventually grew to include 1,300 stores nationwide.

Jones opened the first Check Into Cash store in Cleveland, Tennessee in 1993.

The business model was legalised in 1997 after Jones and other payday industry executives lobbied the Tennessee state legislature to allow payday lending.

The Los Angeles Times reported that Jones made over $23,000 in political donations during this time while Harper's Magazine reported $29,000 in political donations.

Jones merged Check Into Cash in 2021 with Community Choice Financial.

In 2022, he announced that Community Choice had acquired competitor Speedy Cash and the company's 1,700 employees.

Jones sold the company in 1998.

The sale to Equifax set a record for the highest price per earnings paid for a credit reporting business.

Jones has been credited with founding the Community Financial Services Association of America, or CFSA in 1999.

CFSA is the national trade association for companies that offer small-dollar, short-term loans or payday advances.

Through a code of "Best Practices," CFSA members pledge to abide by responsible industry practices that ensure customers understand the cost and risk of short-term payday advances to facilitate the best financial decisions.

The practices also require that members hold themselves "to the highest standard of service".

Jones said he founded CFSA after breaking away from the National Check Cashers Association, due to concerns that the NCCA, now called Financial Service Centers of America, was not giving enough attention to the payday lending industry.

In 2014, Jones purchased Hardwick Clothes, a company founded in Cleveland, in 1880.

Hardwick Clothes is the oldest manufacturer of tailor-made clothing in the United States.

Hardwick Clothes, which began as Cleveland Woolen Mills, was one of two companies founded by C.L. Hardwick in the 19th century.

Hardwick put his son Joseph in charge of Hardwick Stove, the family's other business, while his son George ran the clothing company.

Cleveland Woolen Mills soon evolved into a manufacturing plant, making suits and other items of apparel.