Local Pawn Shop Taking Over the Usual Lenders

local pawn shop

Local Pawn Shop

A couple days ago I was reading Forbes.com and came across an article about EzCorp.  EzCorp is a publicly traded company that owns hundreds of local pawn shop around the country.

The gist of the article was that during tough economic times local pawn shops become a major player in the business of giving loans.  A local pawn shop can give a loan to just about anyone who has collateral.  The pawn shops have the opportunity to sell the collateral if a loan is defaulted on.  Customers are also drawn to pawn shops because they usually deal in cash and they can can get a loan quickly.  There is no waiting and barely any paperwork.

Pawn shops help give people who are struggling a place to go when banks and other lenders turn them down.

by, Seth at Boca Raton Pawn

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