The Hull Loan System has been in business since 1939 in Minneapolis, Minnesota. It was opened in that year as a branch office of a Des Moines, Iowa firm (Aliber and Company) which predates World War I.
It was originally intended to be what it is today: a diamond brokerage business, making loans on diamonds and selling them. But the diamond loan business was insufficient at that time, and it became a full service loan company with a substantial portion of their portfolio always in diamond loans.
Jim Broberg started working at the Hull Loan System in 1948. When the last of the remaining Alibers died in 1975, he purchased this office and portion of their business from the Aliber estate. He then transformed the business into what it was originally intended to be: a diamond brokerage business, making no other loans but those collateralized by diamonds.
Al and Teri Broberg purchased the business in 1992 and continue to operate it to this day. This has been a family owned business for over 100 years.