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Pawnbroking Provides a Simple Solution in Harsh Financial Times

Pawnbroking has always played a vital part in in times of economic crisis as well as times of economic stability.

Since the global financial crisis hit many have been seeking assistance from pawnbrokers as banks and credit agencies move to limit their risk exposure.

There was a time when pawnbrokers were seen as a “poor mans bank” but many pawnbrokers have been seeing a rise in business owners and the wealthy using possessions as collateral against a short term loan.

Unlike other lenders, pawnbrokers do not require bank and income statements or any financial records. The whole process is very simple and when times are hard and stress is high, simplicity offers some comfort in itself. The assets provide collateral against the loan value thereby allowing the pawnbroker to make the best offer. While the majority pay their loans and redeem their items, others prefer to let the items of value go. The pawnbroker will then on sell the item in order to recoup costs.

A small business may have a gap in its cash flow or reserves. The owner may use personal assets to secure a loan in order to prop up the business or in some cases, to pay employee wages.

Unexpected expenses can fall upon anybody at any time. In order to cover these expenses a short term loan against personal property may provide the solution.

Pawnbrokers will look at many items of value, the most popular of which are gold and jewellery but other items such as luxury watches, prestige cars and art are becoming increasingly popular.

A pawnbroker is the most simple, effective way to free up cash  from assets quickly, privately and without hassle.

To find out more, call 1800 311 4221800 311 422

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