Pawn shops aim to help consumers with financial needs

Many consumers were turned away by banks during the economic recession, and these individuals were left to find other forms of finance to make ends meet. Pawn shops have proven themselves to be beneficial for borrowers who need fast access to money, giving consumers more options for their short term lending needs. The News-Journal reports that one pawn shop owner in Longview, Texas, is aiming to change the majority opinion of these types of businesses. Cash Capital Pawn owner Jeff Mercer told the news source that he is looking to change the image since many of these companies provide alternative forms of finance for individuals. Mercer said his store attracts many local residents who come in to sell a variety of items, including jewelry, electronics and firearms. "We are not your ordinary pawnshop," Mercer told the news source. "We are working hard, investing a lot, and are determined to change the image of the pawn shop." Pawn shops across the nation have seen an increase in business, as reality TV shows like Pawn Stars and Hardcore Pawn have shown many consumers the services that these companies offer. WITN-TV states that several owners in the eastern part of North Carolina have reported an influx of customers who come in to sell their items to obtain quick financing.