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By: Emily J. Degen & Sheri K. Wilford
We’re so excited to be celebrating 50 years! We’ve been on a mission since 1973, and we’re proud to announce that after five decades in business, we’re still going strong! 💪🏽 Check out our timeline!
Lloyd’s Plan, Inc. was founded by Lloyd K. Pottratz on March 31, 1973. Lloyd started his new company on Brady Street in Davenport, Iowa where we still reside today.
1992: 2nd Location Opened
With nearly 20 years of experience under our belts, we opened our second location in Clinton, Iowa on Lincoln Way in March of 1992. In March of 2006, we made the decision to relocate closer to our customers by moving to the downtown area on 4th Avenue South. When we outgrew that location, we found a new home not far away on the 6th avenue block, opening April 1st of 2022.
2001: Bought by the Farrar’s
On September 18, 2001, we were bought by Frank L. Farrar. A wonderful family man that kept our Lloyd’s Plan team intact and continued the operations in the same manner that our Lloyd’s Plan customers have grown to expect! The Board of Directors appointed Sheri Wilford as President to oversee the daily operations. Sheri has been with the company since January 1985.
2004: 3rd Location Opened
For our 3rd location we crossed over the Mississippi into Moline, March of 2004, opening our first branch in Illinois. In 2020, due to unforeseen changes, we consolidated our Illinois branch with our Davenport, Iowa team, creating one big happy family under one roof!
2007: 4th Location Opened
We continued our growth by expanding into the Cedar Rapids area in January of 2007, opening our 4th location. The office was moved to Marion in 2011, but we outgrew that space and in 2018 we purchased a new building and moved our office back to Cedar Rapids.
2010: 5th Location Opened
During a visit to Muscatine, we discovered there were no finance companies to serve the needs of the Muscatine community and surrounding areas. In October 2010, we opened our 5th location in the Muscatine Mall. In December of 2015 we held a grand reopening after moving into our newly built office on Park Avenue.
2013: 6th Location Opened
For our 6th location, we headed west opening our newest office in the beautiful city of Des Moines, Iowa in December of 2013. We renovated an old bookstore on Merle Hay Road, where we still reside today.
2018: 7th Location Opened
We're excited to announce that LPI crossed the border into South Dakota. Our 7th branch was opened in November of 2018 in historic Sioux Falls! Lloyd's Plan SD, Inc. D/B/A LPI Loans Is a Subsidiary of Beresford Bancorporation, Inc. South Dakota is another state with underserved customers in the consumer finance world, and we were happy to step in and fill the gap.
2023: Celebrating 50 years in business!
We have been blessed to serve these communities and we owe it all to our wonderful customers (our reviews tell all!). We will continue to grow and practice the same principals that planted us where we are today. ♥