11.1999

Security Check Places In Top Five Of Fastest Growing Businesses In Mississippi

OXFORD, MS - This small town, which recently became the 15th fastest growing city in Mississippi, is now home to the 5th fastest growing business in the state.

Security Check, a check collection and verification business begun here in 1995, was awarded its "Fastest Growing" distinction at a luncheon on October 21 hosted by the Mississippi Business Journal, KPMG Peat Marwick LLP, the Godwin Group and Brunini, Grantham, Grower & Hewes, PLLC. The event took place at the Jackson Country Club.

The awards luncheon honored Security Check and the "Mississippi Fast Forty," the fastest growing businesses in the state for 1998.

"We're thrilled to have won this award and it is due to the hard work of our employees and partners," said John Lewis and William Alias, III of Security Check.

"There are a lot of competitors that provide check collection, verification services and credit card processing, but none that do so with the professionalism of Security Check. We approach the business believing that we must not only collect the check politely but do so where the bad check writer will continue to shop with the merchant in the future with quality checks," said William Alias III.

Security Check received notice last month that it had qualified for the Top Forty. In winning the 5th spot, the business reaches another pinnacle in an almost John Grisham-like rise to the top.

The company began modestly in 1995 in the Oxford apartment of Ole Miss roommates, John Lewis and William Alias, III. The two were selling discount packages for a local hair salon to fellow students when some of the student's checks bounced.

Lewis and Alias contacted the errant check writers and got their money, and Security Check was born.

"We went around to other businesses in town and offered to collect their bad checks and several took us up on it," Lewis said.

And why not? The business gets its money and without having to make potential embarrassing phone calls or alienate a good customer who happened to bounce a small check.

Continuing their studies while collecting at night, Alias and Lewis soon outgrew their apartment. In the four short years of operation, as now recognized by the Mississippi Top Forty, Security Check has quickly grown to over 200 employees and a spacious 6,400 square foot office that collects in over 35 states.

Security Check makes its money by collecting the service charge allowed by state laws. The face amount of the check is returned to the retailer.

That simple strategy is propelled by a simple philosophy: "Be nice," or "Good manners for bad checks."

Security Check uses three large rooms of phone banks operated by Ole Miss students to contact bad check writers. The students are trained in the good ole southern virtue of using "honey instead of vinegar."

"We don't badger people and we're not rude. We train our callers to be polite and business-like," said Alias.

"Sixty-five percent of bad checks are not from bad people, but from good customers with whom the retailer wants to continue a business relationship."

Using tact, persistence, and civility, Security Check believes they have the highest collection rate in the industry.

Lewis said, "Volume is the key," noting that Security Check handles tens of thousands of checks per month, targeting small-to-medium sized businesses, from a medical practice to a florist, in fact, any business that takes checks.

All of Security Check's collections go through Oxford, no matter where the check is written. Security Check makes more than 15,000 long distance phone calls per day. With some 600 - 700 million bad checks written annually, bad checks will only continue to grow, as will Security Check.

In fact, "the 5th fastest growing business in Mississippi" is making plans for expansion into the 21st Century.

At this crucial juncture in the development and expansion of the business, the owners are expanding through an individual sales partnership operation. The collections process will remain centralized in Oxford, however, the sales and marketing will now be done by individual sales partnerships. This network is expanding throughout the United States at a rapid rate. Anyone interested in this opportunity should contact Security Check in Oxford at 1-800-634-4484.

"We're planning on hiring another 150 people over the next 12 months in sales, administration, and accounting. We've also negotiated a deal with the 2nd largest credit card processor in the U.S. to enter the credit card processing market."

Such expansion should keep Security Check, "the 5th fastest growing business in Mississippi", from ever slowing down.

Security Check www.securitycheckllc.com is a privately owned and operated company that offers a full range of payment and customized process solutions. By offering their clients a customized payment solution, Security Check has been able to develop new products that will enable their clients business to grow.