The word “Provident” is an adjective, describing foresight and preparation for the future. The word is used most often as a “prudent approach” to savings, “planning ahead,” and even “future proofing” ones finances to “flatten the roller coaster of change.” It was the discussion with our owner, John Abovian, that inspired me. His vision was more than “a name,” and revolved around a “mission,” made up of “values” and “purpose,” bigger than maximizing profitability. The business had to be profitable, of course, yet we were never going to measure ourselves by the typical standard of “maximizing profits at all cost.” He believes, that “good business” has to be good for everyone.
After “kicking the tires” and “checking under the hood,” I was convinced and motivated that Provident Lending Group, LLC had the “engine” to turn its vision into reality. John explained, that he “never wanted to be so big that he forgot who worked for him.” He never wanted to sacrifice outstanding pricing, by creating some “monolith” of unnecessary management positions that detract from our competitiveness in the market. Paying our sales and operations associates what they deserved, and having a reputation for great affordability, was more important to him than building a “kingdom.” Our culture has to be maintained; it is the job of every leader to create an environment in which we will always be a “People Company, that makes loans.”
I look forward to sharing my thoughts with you regularly…adding clarity about our company; sharing some acquired wisdom over my 30 years in the business, while helping you navigate the challenges we face, and inspiring you to embrace the responsibility and nobility of this great profession.