Pawn shops increasingly go online

The internet has helped to fuel operations for many businesses. Now, pawn shops are going online to help more consumers with short term lending and alternative finance options. The Daily Mail reports that a new internet pawn shop, called Pawngo, has opened its proverbial doors to customers who are looking to sell items in exchange for quick access to money needed to cover necessary and emergency expenses. The business carries a variety of items, including luxury items, such as Cartier and Tiffany & Co. jewelry and other designer goods. Pawngo CEO Todd Hills stated that his company aims to help consumers of all incomes. Online pawn shops have been increasing in popularity throughout the country, as consumers begin to realize the advantages of these short term lenders, according to the Chicago Tribune. The rise of ecommerce has made consumers more comfortable with the idea of pawning items on the internet to obtain funds to pay for expenses. Many individuals feel they do not have enough credit to get traditional loans from banks, so pawn shops and other alternative finance lenders are stepping up to the plate to help consumers.