Pawnbrokers Are Set To Expand!
Pawnbrokers Are Set To Expand!
Let’s face it, the banks are just not cutting it! First, they threw all their shareholders’ money away on get-rich-quick scams that were bound to fail; then they begged the Government to order the taxpayer to bale them out; and finally, now they’ve been saved by our cash, they’re refusing to lend it back to us!
So, it’s no surprise that pawnbroking businesses are on the increase. For many years now, prudent Government regulation has consigned the antiquated, Scrooge-like image of the 19th Century pawnbroker to be a thing of the past. But a more fundamental change is being brought about by the fact that in today’s credit-crunch climate, customers are increasingly positive about a source of personal finance which they consider to be not only reliable, but also readily available.
So, it’s easy to see why pawnbrokers are expanding so much at this time. There are differences of opinion, however, about exactly how that expansion will manifest itself. Some observers expect most of the expansion to happen on the high street. However, the more astute are putting their money on on-line expansion.
Paul Aitken, CEO of Borro Limited, the world’s first online pawnbroker explains:
“There is no doubt that, because there is little sign of the banks loosening up their lines of credit any time soon, the High Street is bound to see a proliferation of pawn shops. However, this will probably be restricted to the traditional segment of the pawnbroking business at the lower end”.
Paul continued, “With the introduction of pawnbroking online, we have seen a massive upward shift in demographics of those using this form of personal finance via our website. There are many solid, middle class and up-market customers suffering short term financial issues, who are just not being served by the banks, but who would tend to shy away from being seen in a high street pawn shop”.
“However, the online service they get from Borro.com creates a very different perception, and offers a very different experience. It’s totally discreet, convenient and fast! It’s all done online, at home, on the customer’s pc, and all goods are transferred to and fro by fully insured courier. Most importantly, because of efficiencies and economies of scale, online pawnbrokers are in a better position to pass the benefits onto customers in the form of more competitive interest rates and loan-to-value offerings. For my money, the future of pawnbroking is online!”
Borro.com offers loans between £100 - £100,000 for 1 - 6 months (extendable by mutual agreement) at 4% - 6% per month (subject to pledge valuation). This is much more affordable than the 25% upwards charged by the typical pay day loan company, and much more flexible than many other alternative, short term loan providers.
Fast cash is easy cash at low rates with Borro.com. For a personal loan, collateral loan, short term loan or secured loan, check out Borro.com. There’s no need to sell your valuables when you can get cash for gold and jewellery or money for art and antiques in the form of a loan from online pawnbroker, Borro.com.
Visit Borro.com today, or phone us on 0800 756 9877.
