Think back to your childhood, when responsibilities were still a long way off and your biggest concern was finding one more player to fill out your pond hockey team.
At the age of 12, James White, now the president and CEO of Canam Credit Company Inc., was launching the entrepreneur within, starting on the path that would make him one of the more remarkable young businessmen in Canada today.
In the space of a brief meeting with White, he was interrupted no less than three times. There's no denying that the office is jumping with business, demanding quick decisions and constant attention. White, 22, handles it like a seasoned campaigner, tossing out directions and turning back to make jokes between answering questions.
Canam is the sixth successful business he's started. The first was a snow-shovelling venture, which White made profitable by demonstrating the same vigour he would bring to a string of businesses over the last 10 years.
Through reinvesting the money he made from shovelling snow, White built a landscaping business. From landscaping, he acquired tools and equipment, among other assets, that enabled more expansion, greater revenue and a higher service level for his clients. And more clients, as well.
By the age of 21, he had created five highly profitable companies, turning a $20 snow shovel into a multi-million dollar corporate structure called J & W Corporate. White is now leading what promises to be his biggest venture yet: Canam Credit Company Inc.
Canam is based on responding to people's financial needs, supplying ways to help people succeed financially in their lives and take pleasure in pursuing that goal.
"Canam is a customer-oriented business, which surprises people - especially those who have experience with institutions involved in lending," says White. Canam's business model is a simple: Good people + good business = success.
Canam provides service in practically every aspect of the private financing industry, including business factoring, first and second mortgages, commission advances, auto loans, secured business loans, structured settlements and short-term loans.
Canam offers both competitive rates and an expert staff focusing on helping customers to live stress-free lives. White has gathered together representatives of the industry with years of experience in financing, accounting, sales and marketing, investing and business management.
It is a team effort, says Dale Anderson, editor of Canam Success Magazine. "Everyone on the team has a vested interest in getting the work done. We're changing the industry standards by reinventing them."
Reinventing the rules has been a trademark of White's long-time success, but he stresses the one rule he adheres to is keeping the customer happy. "Every man is proud, whether he's rich or poor," says White. "If you make him feel special, he will come back time and time again."
The biggest opportunities for company growth have come from Canam's interests in "factoring," where money is provided up front for businesses having too much of their money tied up in receivables. Canam offers to buy invoices for up to 85 percent of the amount owing, allowing businesses to free up capital and spend their time and money on expansion rather than on collection.
White expects to raise $10 million, enabling him to expand what is now an international business following the opening of a Nevada location. He sees only more expansion in the future. "We're looking to have the largest factoring business in North America, if not worldwide," he says.
Perhaps the most innovative and convenient service supplied only by Canam is the introduction of short-term loan kiosks. These Mister Money® kiosks are linked to debit accounts and can print cashable cheques straight from the machine. In less than 10 minutes and with only a void cheque and valid identification, a customer is able to obtain a loan to help with their immediate financial needs.
Canam's growth plan includes a call centre, additional store locations and more financial opportunities to make their clients money. The plan is that the company will expand to fill the needs of every customer in the financial world while concentrating on the individual.
Naturally, all this is business as usual for White, a goal-aholic who has always had his eye on the next move. Those moves have only just begun to bring him recognition from his peers.
White was nominated for the Canadian Junior Chamber of Commerce entrepreneur award in 2006, and for the Chamber of Commerce top 40 under 40 award in both 2006 and 2007.
White credits his knowledge, his expertise and his determination when it comes to making it all work. "I believe in a growth-off-growth approach, investing in your own work to make it as productive and efficient as possible.”
That is where the energy comes, says White, that will make his new business flourish.
To find out more about Canam, call 403.235.1005 or visit www.canamcredit.com.
