What is a pawn store?
Well, a pawn store is a shop that offers loan in exchange of personal property that could be compared to collateral. If the borrower of the loan is able to repay the loan on time with the interest then he can redeem the collateral. Otherwise it will get liquidated by the pawn shop through a pawnbroker or second-hand dealer through sales to customers.
The history of the pawn stores go back to the ancient times. They were present in ancient Greece as well as China. In fact, they had a role to play in the discovery of America. It is said that Queen Isabella of Spain pawned her ornaments so that Christopher Columbus could embark on a voyage to find a new route to the West Indies. In turn, he stumbled upon America. Pawn stores are safe, confidential, quick, and secure ways to obtain cash for life’s unexpected emergencies.
“Everyone doesn't have credit cards. They make pawn shops out to be crooks, but people live week to week. I'm a poor man's bank. No questions asked. You can walk in here, pawn an item and be about your business. You don't need to explain why you need $50 to pay the electric bill.” -Ron Thomas