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Pawn Shop Loans

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Pawn Shop Loans

Pawn Shop Loans

Pawn Shop Loans

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  • <iframe src="https://www.npr.org/player/embed/1150278/150278" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

From member station WDET in Detroit, Quinn Klinefelter reports that a shaky economy has more Americans turning to pawn shops for the loans they need. As many pawn shops change their look for a wider appeal, customers are often drawn by the quick loans at low interest rates. Pawnbrokers gauge how bad the economy really is, as small business owners arrive to pawn valuables and automobiles for short-term loans. Financial experts say the pawnshops have found a niche by taking risks on customers that banks would turn down.