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Gold Star Finance loans pay off for customers

Short-term installment loans can help turn bad credit into good. Photo by Jane Kathleen Gregorio

Short on summer vacation cash? Unexpected family emergency? Car repair expense just beyond the budget? A short-term installment loan could be the answer to your problem. The experts of Gold Star Finance Inc. in Corpus Christi help alleviate life’s day-to-day challenges with small, installment loans that can help build credit scores.

“Life isn’t a bed of roses, and, sometimes, we get stuck by the thorns,” said Fred Gonzalez, manager of Gold Star Finance’s Everhart branch in Corpus Christi. “Our company is here to help people out when they fall into a bind by lending money to those who need it.”

A family-owned corporation, Gold Star Finance Inc. was founded in 1986 by owners Forrest Marr and Innette Sofey Marr. It currently operates 63 offices across Texas and is listed among the top 10 operations in the state by the Texas Consumer Finance Association. It is licensed by the state of Texas and regulated by the Office of Consumer Credit Commissioner.

As a consumer lender, the company provides money borrowers with loans they can’t usually get from a bigger financial institution. Most banks do not lend amounts under $500, Gonzalez said, while Gold Star Finance offers installment signature loans from $100 up to $1,340.

For those with bad credit ratings, taking out a small loan is one of the simplest ways to help re-establish a good credit score, Gonzalez said.

“Creditors want to see that you’re able to make monthly payments on time to prove stability,” he said. “For example: Students who just graduated and need to build their credit history can get a starter loan with us, and if they are making their payments on time, we report this to national credit bureau to help them establish a good credit history.”

Not all companies report good credit, but Gold Star Finance does to help its customers, Gonzalez said.

The experts of Gold Star Finance Inc. in Corpus Christi help alleviate life’s day-to-day challenges with small, installment loans that can help build credit scores. Photo by Jane Kathleen Gregorio

Gold Star Finance is not a payday or title lender, and it does not offer check cashing. It does provide personal loans with flexible installment plans that help borrowers pay on time while also providing accredited tax preparer services during tax season.

The amount of a loan for which applicants can qualify depends on income and prior credit history. Additional documents needed include a valid photo ID such as a drivers license, a Social Security card, and proof of residence.

“Once a client pays off their first loan with us, they can come back and borrow again,” Gonzalez said. “The amount they can borrow will increase along with their history of timely payments with us.”

Gold Star Finance opened its first branch in Corpus Christi in 2010 on Everhart and Saratoga. It has since added two additional locations: one on Weber and Staples and the other on Leopard Street in the Annaville area.

“No matter which location a customer visits, they can expect the same quality of service all around,” said Jay Sanchez, manager for the Weber Road branch. “Gold Star Finance builds on good customer service, and we want our clients to feel like family.”

Sanchez has worked with Gold Star for four years. He remembers the success stories fondly.

“One of my clients had poor credit and lots of charge-offs,” he said. “I started him off at a $100 loan, which he paid off timely. And over time, he has been able to increase the loan amount he can borrow because his credit is improving.”

Even the company handbook mission statement reflects the value placed on helping customers with solutions, Gonzalez said. The statement promises “to operate with the upmost respect for our customers and our industry.”

“I like to treat people the way I want to be treated: with respect and integrity,” Gonzalez said. “We have a lot of recurrent customers who were able to rebuild their credit with us over time. It is such a great feeling to see a longtime client who started off with not so good credit come back and tell us, because of our services, they qualified to buy a new car or major purchase. It’s gratifying to know we helped our customers get a fresh start.”

Customers can apply for an easy-to-qualify-for personal loan by calling the nearest Gold Star Finance branch office. Applications are submitted by telephone or online through the company website.

The three Gold Star Finance locations in Corpus Christi are:

• Southside: 6601 Everhart Road, #B6, (361) 857-0055

Central: 4040 Weber Road, (361) 854-7800

• Annaville: 11101 Leopard St., #7, (361) 241-5668

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