Consumers use pawn shops as short term lending solution

Although it is improving, the economy has yet to fully recover from the 2008 recession and many Americans are still strapped for cash. Pawn shops nationwide have seen an increase in customers recently and many are realizing the benefits these businesses can offer. According to KWES-TV, area shops in the western part of Texas have experienced an influx of customers who have come in to pawn items in order to obtain small amounts of money needed to pay bills and make ends meet. While the economy is on the rise, the owners of the local businesses say that for some consumers, times are still tough and they look for ways to get quick funds. The increase is also from shoppers who are trying to find good deals on items, says the news source. Pawn shops are also doing their part to catch thieves in their local communities. The Eagle Tribune reports that an ordinance in Salem, Massachusetts, requires shops to hold items brought in for sale for 30 days, and once they are sold, the businesses must give pawnslips to Salem police officers for documentation. Local authorities say the ordinance was put into place in order to stop the theft of goods from homes, states the news source.