M&J Loans of Shelby

M&J Loans of 409 South Lafayette Street is under new ownership, with a slight addition to the name, M&J Loans of Shelby. Former owner John Paksoy, the third generation involved in the family business, left his staff intact when he turned M&J over to Jed Rankin, owner of Marion Credit Company in nearby McDowell County.

M&J was founded in 1930 by Paksoy's grandfather, Fred W. Blanton, who moved to Cleveland County from Columbus, NC, to start M&J. He operated the business until his passing in the 1950s. John's father, Ali Paksoy, ran M&J until the business was sold in 1980, and in 1988, John resurrected the brand in Shelby, concentrating on automobile financing and small loans.

M&J stands for manufacturers and jobbers, the kind of people, Paksoy said, who couldn't rely on a bank for financial help. "Our customers are not bank customers," he said. "We service blue-collar workers. There has always been a need, which has always been in my blood." Paksoy said. "I feel obligated to help customers first, and the bottom line is second...If you don't truly believe in helping your customers, they know that, and they won't come back."  Continuity is foremost among Rankin's goals for the business and its customers. "I am excited to have the opportunity to grow what John Paksoy has established, and I look forward to a long relationship with the good people of Shelby and the surrounding area," Rankin said. "We are a small, independent, people-first company. I have always believed if you treat people well, everything else will take care of itself."

Paksoy built M&J Loans around that same philosophy and said he is confident he is leaving it in good hands. "I'm very happy Jed is going to continue the name; that means a lot to me, and I think it'll mean a lot to our customers who have been here a long time."

409 S Lafayette St.
Shelby, NC 28150

(704) 487-4141

opened 1930