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The Rise of Online Pawn Shops

A great new article was just posted over at the Huffington Post Business Canada, titled “The Rise of Online Pawn Shops“.
In this article Steven Uster recognizes the hot new trend of Online Pawn Shops and the great value and new possibilities it presents to people:

“In recent years we’ve seen the growth of two market realities that have now come together to create one new and fast growing industry. The first is people’s increased comfort with online financial transactions. With better security and growing adoption of online banking and payment, people are increasingly tending to their financial interests through the Internet.

The second is a rise in the pawn industry as people look to sell off personal items in order to do any number of things from pay off debts to maintain lifestyle, to grow new businesses where other financing avenues are not available to them. Together — the Internet for financial transactions and the need to leverage personal assets — have paved the way for a new model of online alternative financing that’s taking off in the U.S., the UK, and now in Canada.

There are many situations where using your personal assets — such as gold, jewelry, precious metals, diamonds or luxury watches — as collateral for a loan can make sense to actually save you money in your daily life. Perhaps it’s an unexpected expense that’s come up, or the need for a bridge to tide you over between one financing option and the next. Whatever the scenario, when you possess items of value, the ability to leverage their worth is one of the growing number of alternative financing options available.”

Read the whole article

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