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Tower Loan
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79 reviews

Tower Loan United States Employee Reviews

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Not so much
Manager Trainee (Former Employee), Rolla, MOJuly 12, 2014
Pros: you get to make slaves out of people through debt
Cons: no job security
I worked for Tower Loan for only 8 months, but it was definitely off. In the short time that I work there, I had 3 managers for my branch due to them being fired or leaving due to incompetence or embezzlement. This is not uncommon, as our region had roughly 25 replacements of managers just in our segment of the state.

The actual worker ants of Tower are very hard working, and you are taught that it is not okay to only do an average job. Supervisory staff are typically below average intelligence, managers who weren't smart enough to find new jobs with respectable employers but not quite incompetent enough to get fired. And yes, it only gets worse closer to the top as the supervisor of both Missouri and Illinois is nothing more than a former used car salesman with nothing but a GED.

The company sells very high interest loans with useless insurance packages tacked on as a means of keeping a stable cashflow coming into the office, essentially as a form of economic slavery. Overall, this company is very shady and they abuse their employees. I would not recommend anyone to work there for very long and NEVER recommend that that anyone become a patron of their "services."
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Productive and fun place to work with music.
Cashier (Former Employee), Oxford, MsJune 26, 2014
A typical day at work would include calling customers who were eligible for another loan and also filing files in the correct folders. My boss was very laid back and liked having the radio playing throughout the day so that made it not so quiet in the office when we were doing work. The hardest part of my job would be dealing with the certain customers who were late on the bills and did not want to pay. The most enjoyable part of my job was getting to run errands for my boss.
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Shady Company
Branch Manager (Former Employee), MississippiJune 19, 2014
I worked for Tower Loan for 2 years. I was hired as a Manager Trainee and promoted to a Branch Manager when my training was complete. People in this company are very hard working, and you are taught that it is not okay to only do an average job. (not that I think that its a bad thing) Supervisory staff use bullying techniques to try and get the manager, and their staff to meet monthly goals. As a Manager, I was told on a few occasions that I was not allowed to leave work until my supervisor said I could, which ended up being at 9pm at night. The company sells very high interest loans, which is not in the best interest of the people needing to borrow the money, and they also sell bogus insurances that are ripping off the customers; and if you dont sell the insurance you can bet that you will be hearing from your supervisor, or higher staff. The company does not care about its employees, and they promise you things like vacation time and money so you want to work there, but then, regardless of how well your office is doing, they dont want to let you take your vacation time. Overall, this company is very shady and they abuse their employees. I would NEVER recommend that anyones works there.
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Clerical Work
Branch Manager / Trainee (Former Employee), Jennings, LAJune 18, 2014
I worked for this company right after High School and it was a good job for a beginning college student. I have learned to manager phone calls, emails, client, and other task ifor the time being.
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Not for everyone
Manager (Former Employee), MOJune 18, 2014
Pros: free lunch when supervisor is in your branch
I worked at Tower Loan for about 3 years. It is a good starter job out of college. Don't feel bad about using them to get the experience, you are just as disposable to them as they would be to you. From a company that pushes the employees to get people hired, but is constantly firing their current employees that know what they're doing, they really shoot themselves in the foot. Typical work day is going in, making 100+ phone calls per collections, solictitation, etc. You are required to get 1 loan per day and oftentimes, supervisors will make you stay there "til 9 o'clock if you have to" to get it done. Minimal 'family time' type of job.
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HATED IT
manager trainee (Former Employee), mississppiApril 7, 2014
Pros: a paycheck ....barely
Cons: everything else
I would never recommendd this company to anyone not even my dog. They had me traveling after ... the reimbursement was a joke only two weeks there and for whatever reason there was ALWAYS a shortage and they called my office to have me go there. I had no problem with traveling but there was no incentive....and the reimbursement was a joke. Also the managers scott and mike did their absolute best to intimidate people because they want people to need tower loan unfortunately I have my degree now and I had to leave. They literslly came to the office I worked at to try to scare me into going out of town again for them hell no I quit that day. Oh well no love lost they don't give two craps about the employees and set unrealistic goals for those small towns. Upper management thinks they can talk to any body any type of way. also they play with your money they make it a guessing game when your going to get paid no one has time for that when they bils so they suck it because their shady as hell. Maybe one day lightning will strike lol but until. then run away as far you can if someone recs, them.
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General Workplace
Manager Trainee (Former Employee), Greenville, MSApril 7, 2014
I learned how to get along with difficults customers and co-workers on this job. A typical day consisted of calling customers multiple times a day in efforts to collect.
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manager trainee
Manager Trainee (Former Employee), LAApril 1, 2014
Pros: money
Cons: everything else, no sick time or days off until promoted
The job includes lots of duties and management expects you to do everything at once and it can be overwhelming. You learn a lot about customer service but they expect you to make people get loans. The best part about the day job is payday. The hardest part is on close out, management expect you to stay 2-3 hours after close time.
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A joy to help others.
CUSTOMER SERVICE REPRESENTATIVE (Former Employee), Hammond, LAMarch 24, 2014
Phone calls, taking payments, etc.
Learned proper telephone etiquette.
Management changed a lot.
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Not a place for someone with a degree
Branch Manager (Former Employee), Will Not DiscloseMarch 8, 2014
Pros: pay, knowledge on loan industries, experience to those who see a career in this, meeting and knowing customers
Cons: hardcore collection, chasing people, stressful, high turnover, work hours
If you have a degree don't waste your time here and find a job in your degree asap. Come here as a last resort. The more time you waste here the more inexperienced in your degree you become. Job requires minimum of High School diploma..that should be your first clue.

- As a trainee, you HAVE to relocate wherever they tell you to. You WILL NOT have a vacation during your trainee period until you become a Manager. Only CSRs and Managers can have vacations.

- Most Tower Loan offices aren't in the greatest of cities. Some in really worn out towns some in big towns (usually the best/experienced managers are at the best areas/big offices due to large customers to handle. So they need someone experienced.). So if you're a trainee prepare to be promoted to any raggedy looking place.

- Expect making daily phone calls. No exceptions.

- You have to solicit people everyday to see if they need money. Depending on how big or small your branch is you can find yourself calling same people every single week to the point that they get irritated.

- You have to call people to collect their money. After a late charge is incurred expect to call them at their work place and all their references as well.

- When someone is behind 2-3 months you're expected to solicit them to renew their loan. Renewing their loan makes them basically start over and they won't have to pay for another month. This is complete trickery because when you renew their loan when their balance is down to $2K it becomes $4K after renewing so basically you're putting the customer in more debt. My self conscious could not handle – more... this and wished the customers were smart enough to know what they were putting themselves through by renewing.

- If you're a trainee/manager expect to chase people at their houses to get your payment. I haven't been in any danger doing this but that doesn't mean you wont. Trainees are expect to chase after 6-7 months of training. Managers basically they have to chase.

- You have to sell insurances when you're closing the loans. You'll be emailed if your insurance sales are not well. You'll catch yourself basically sneaking the insurance into the customers by saying "this loan includes optional insurance" really fast without explaining what all insurance products are included...as long as you say optional according to the company you've sold the insurance. I've seen many customers unaware they had any insurance and some cancel them later on.

In short, working here I went from positive to negative. Company requires honesty but I felt like a liar working here by sneaking in insurances and renewing people's loan. If you don't sneak them in by explaining each insurance customers won't want them or maybe they might want 1 out of 5 insurances your selling but your numbers become low and you have to explain yourself. The job is so stressful you have weekly goals to meet otherwise you work late nights and/or weekends. Pray you don't get promoted to a bad office cause you'll have to fix that office from bottom to top. If you're in a bad office you automatically on late nights thanks to the previous Manager. I've known many managers get fired or demoted back to being a trainee after not succeeding lifting up an office. I went through this and thankfully I was able to lift the office up but eventually got tired and I saw no future working here so I left.

I hope this review is helpful. It'll be summarized with pros and cons below. – less
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Business
Branch Manager (Former Employee), Springfield, MOFebruary 23, 2014
Pros: pay was good
Cons: not real honest with their customers
Sell loans and collect loans. Typical day at work included checking all reports, sales and delinquency. I took care of customer needs and altered arrangements as necessary.
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Easy work, started out as fun enviorment.
Customer Service Rep (Former Employee), Baton RougeFebruary 5, 2014
Pros: easy work
Cons: confusion and disrespect
When I first started working for Tower Loan I loved it. The customers were great, the atmosphere was amazing, and my co-workers were awesome. It was a relaxed job. There was a lot of work to it but it was easier than it look. There was always something for me to do. A typical day would be coming into the office, making phone calls filing paperwork, entering information into the system and taking payment. The hardest part was when the drawer would be off. I might have taken some time to find the error but, I always found it. After a while I begin to learn a lot about the company. Their turn overs were high and management wasn't all that great itself. There was confusion in the office and if something was to go wrong everyone will cover themselves. Management did whatever to make sure that they were not the ones to lose a job. There wasn't any integrity at all. If management felt like you were wrong and they were right they made sure to put you under the bus, and the whole while they could be wrong. They treat their customers any kind of way. They will sit and curse at their customers hollering and disrespecting them. It was a job for me so I had to let myself go from the company.
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Taking calls
Collector (Former Employee), McComb, MSJanuary 27, 2014
It was wonderful meeting new people over the phone and in person. I would enjoy doing that again.
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Management
Cashier/Customer Service (Former Employee), Hammond, LAJanuary 23, 2014
Pros: decent pay
Cons: manipulation of customers/ horrible unprofessional management
This company, like many, are all about a dollar. They will put the integrity of their employees on the line for the sake of meeting a quota.
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I wouldn't reccomend to friends and loved ones..not worth it
Manager (Former Employee), MSJanuary 23, 2014
Pros: experience
Cons: pay, management, double standards, lack of respect.
A typical day at work consists of making collection and solicitation calls and giving loans..there are a lot more things to do but these two duties is where the main focus is.

Great opportunity to gain experience, they'll give pretty much anyone a chance since the turnover rate is so high and staffing is important. So if you're looking to get In the field this job is a good option.

Upper management is not fair across the board. If you're not in a certain circle or they don't like you enough then you'll be on the hot seat a lot quicker then others. You'll be treated like an adopted step dog.

The hardest part of the job is the mandatory relocation and controlling delinquency. It doesn't matter how good you are in any other aspects of your job. If your DQ blows up (which will always be considered your fault regardless of the market or circumstances) then you are done. And that's a bad formula when you're 5-12 hours away from home.

The most enjoyable part of the job for me was being able to train and watch employees actually develop the tools they need for success in the company.
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awful company
Manager Trainee (Former Employee), Tupelo, MSJanuary 21, 2014
not a great company. no respect for employees. work long hours for little pay.
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Lively place to work
Manager Trainee - Internship Tower Loan (Former Employee), Tupelo, MSJanuary 16, 2014
A typical day at work is made up of making phone calls and processing personal, automobile, and mortgage loans. I learned what was necessary to legally disperse a loan to someone and all the legal documents that are needed. The hardest part of the job was learning the computer system and how to get to all of the screens and documents. Although the most enjoyable part of the job was learning the loan process and making new friends and relationships.
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Nice establishment to gain some experience!!
Manager Trainee (Current Employee), Shreveport, LADecember 14, 2013
Pros: great benefits, good place for advancement in a very short time frame!!
Cons: customers are rude and hate the idea of following through arrangements of their loans.
Great way too get your experience in a business that is on the come
up!! Shyness not allowed but if you are a shy type might be best for the experience of taking you out of your comfort zone.
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Manager
Manager (Former Employee), Rolla, MODecember 4, 2013
Pros: relocation, advancement, pay
Cons: no work life balance and hours
Tower Loan was a great company to work for. The job is very demanding with hours of operation. Collection and Soliciting are the main job functions.
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Fun Summer Job
Loan Officer (Former Employee), Natchitoches, LANovember 21, 2013
Great beginner job that teaches how to handle customer service and also handle large amounts of money.

About Tower Loan

Tower Loan, a privately-owned finance company, operates more than 200 branch offices in Mississippi, Missouri, Illinois, Alabama – Read more

Tower Loan Salaries

Manager Trainee
$30,000 per year
Branch Manager
$42,000 per year
Customer Service Representative
$9.10 per hour
Manager Trainee
$10.00 per hour