Pawn shops first emerged in China more than 3,000 years ago. They were used as away to grant credit to peasants, and their operations were regulated by Imperial authorities. Pawn shops were also popular in ancient Greece and Rome, where small merchants used pawn loans to start businesses. But the Catholic Church had restrictions on […]
Monthly Archives: June 2012
Bank lending rates are at their lowest since the Great Depression, according to Standard & Poor’s, a leading financial services firm. This leaves consumers turning more and more to pawn shops to meet their credit needs. It is extremely difficult in the current economic environment to get small business loans and personal loans from large […]
Pawn shops are strictly regulated by a number of federal, state, and local laws and standards. On a federal level, pawn shops are regulated by the Federal Trade Commission, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, and the Treasury Department. They must comply with the following federal laws: The Truth & Lending Act The […]
1. The average collateral loan amount nationwide is $100, according to the National Pawnbrokers Association. This shows that collateral loaning is often used to help consumers obtain a small source of funding. Pawn shop customers tend to borrow only what they need, and often use the funds as a safety net in the case of […]
Father’s Day is Sunday, June 17 this year. Find the perfect gift at Suffolk Jewelers & Pawnbrokers, Massachusetts’ oldest pawn shop. Suffolk carries a wide variety of items Dad would love, including cameras, amps, guitars, designer watches, power tools, and gold rings and other jewelry. And to couple with the perfect Father’s Day gift, plan […]