A new company has moved into the Brisbane building downtown leasing over 12,000 square feet, and is now the building’s largest tenant.

credimac is start up Public Benefit Corporation performing Debt Settlements. One of the four co-founders, Paul Wilkins explained the business and why he picked downtown. “Originally the founders were looking at Jacksonville, Tampa, or Elma – I had worked there with Seneca Mortgage and after Nationstar bought us, there was 25,000 square feet furnished and ready to move it there – but I convinced the rest of the group to locate downtown due to the central location and easy transportation access and the workforce available here,” said Paul. “The space was previous used by Campus Labs and was a mix of hodge-podge office and open areas. Working with Hunt (the building’s owner) they reconfigured some walls and offices and gave it a new modern feel. The offices look out onto Lafayette Square. Being a startup, the corner office goes to the Ping-Pong table!”

It was a three to six month process looking for the right location. Paul looked at buildings all over the downtown and around the Tri-Main building, but in the end the Brisbane offered the best option for starting smaller and expanding. credimac expects to be hiring up to 200 people.

credimac expects to be hiring up to 200 people.

“Interestingly, a lot of places wouldn’t even talk to us thinking that we were a collections agency,” Paul noted. “But a Debt Settlement is totally different. We negotiate with credit card companies to reduce the principal by 50% or so and then setup a fixed term payment plan. There is over $1.02 trillion in credit card debt in the US. It doesn’t take much – losing a job, getting ill, divorced, getting – to cause serious financial problems.”

What makes Paul think they are different is the Public Benefit aspect. “As a PBC we have to show a benefit to the clients, so we are very conscientious about making sure that we only work with people that can get through the program,” he added. “We only get paid as the client pays off their balances, and we want to help people get out of the circle of debt just paying minimum balances.”

As for the hires, credimac is looking for people with the right attitude and empathy for the clients. “It won’t be like a normal call center, people will be calling us or asking us to call them.”

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