About
As mankind’s oldest financial institution, pawn
brokering carries on a tradition with a rich
history. Pawn broking can be traced back at least
3,000 years to ancient China, and has been found
in the earliest written histories of Greek and
Roman civilizations. Queen Isabella of Spain
pawned the crown jewels to finance Columbus’
voyage to America.
The pawn customer borrows money for a short term
to meet their daily financial needs. The average
loan is usually $50.00 to $80.00. They are
generally working people that have an emergency
come up, and are not able to solve their need for
temporary cash with credit cards, their bank,
credit union or friends and relatives. They are
almost equally working men and women between the
ages of 18 to 50 and many have small children.
Most of the reasons for short term cash needs
range from, but are not limited to:
Auto Repairs
Household Expenses
School Expenses
Childcare Expenses
Medical Expenses
Gas Prices
Payroll Delays
Temporary Unemployment
Holiday Expenses
Unexpected Expenses
In today’s society pawn shops are one of the most
regulated businesses. Every item that comes in to
a pawn shop is checked by the police department.
The pawn customer has to be over 18 years old, and
have a valid, state issued picture ID. The
national average of stolen items taken in by
pawnshops is less than two-tenths of one percent.
Today, most pawn shops are out to change the
public perception of pawn shops, so in most cases
you will find a bright, clean and well
merchandised store that is similar to other major
retail stores.