“The store just resonated with me from the very beginning. It does serve a major need in our community.”
Bryan Robinson, senior vice president and city executive at First Bank in Franklin
FRANKLIN, N.C. – Kim and Russ Pullen moved from Florida in 2019 with big plans to open a mountain retreat center. Months later, the COVID-19 pandemic forced a bigger pivot.
Russ, a personal trainer, lost his job at a local gym, and began reaching out to his former clients — mostly older adults — to see if they needed help maintaining their homes. When some couldn’t afford to pay, they offered other items in exchange. Quickly, his collection of bartered items grew, and what started as a community kindness evolved into 3H Thrift Shop. The “3H” stands for Handy Helping Hands, the name of Russ’ handyman service.
As they prepared to open the store in early 2021, the Pullens couldn’t afford a business loan. But everything else came together. They found the perfect space, a 2,300-square-foot storefront near Main Street. Friends volunteered to help. And, at the last minute, they acquired a Penske truck’s worth of items from a crisis storage center, which filled up the entire space with merchandise.
“Since then, the community has just really embraced what we do,” Kim Pullen said.
But, a few years in, as the store grew — expanding to include a basement and attracting a dedicated team of mostly retired volunteers — the Pullens faced a major decision: purchase their building, which the owner was putting on the market, or relocate.
For a small business with modest earnings, a traditional bank loan still seemed risky and potentially out of reach. “We didn’t want to break ourselves with the down payment,” Kim said.
Time for Expansion
Coming up with the equity injection – the cash or capital — required for a purchase is a common hurdle for small businesses, said Bryan Robinson, senior vice president and city executive at First Bank in Franklin. A traditional loan usually requires a 20 percent downpayment.
For the Pullens, however, a more affordable lifeline emerged through First Bank and its partnership with the NC Rural Center’s Loan Participation Program. By collaborating with the Rural Center program, First Bank can offer financing that covers up to 90 percent of a project, reducing the borrower’s equity requirement by half, Robinson said.
“Being able to leverage a higher amount, partnering up with the Rural Center, has helped not only Kim and Russ and their business, but numerous businesses in rural markets,” said Robinson, who has worked on multiple loans with the Rural Center.
When evaluating proposals, Robinson considers a small business’ history and cash flow, along with how a loan will help it level up and benefit the community. The thrift store was a great candidate, said Robinson, who lives in Franklin and was already familiar with the store.
Not only does 3H Thrift provide affordable items for the community’s aging and low-income population, he said, it’s also a place to find household needs in an area where there aren’t a lot of shopping options.
With affordable financing in place, the Pullens were able to purchase the building in August 2024, get started on needed remodeling and expand into even more space. By this summer, 3H Thrift will occupy 5,300 square feet.
“When we got approved, it was just a release of tension for me,” Kim said. “We’re now going to have more space for all this, which is going to help us pay off the loan faster.”
Cycle of Service
The store’s success stems from more than just affordable prices and its meticulously cleaned and organized merchandise, which Kim takes pride in. It embodies a “cycle of service,” as she calls it.
3H Thrift keeps items out of the landfill and in the community and fills a gap for its customers, particularly older adults living on fixed incomes, Kim said. And it’s become a family affair. Two of the Pullen’s sons, Tristan and Chris, help out. From a front office in the store, Tristan, who has autism, even sells homemade cookies to fund his goal of bowling in every continental state. So far, he’s bowled in 36.
“We have just set our hearts on meeting needs. God has really blessed it, like big time blessed it, and we look at this as a ministry to help people,” Kim said. “We work really hard, but it’s a joy.”
