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New Breed of Pawn Shops Fills Business Lending Void
Traditional pawn shops are jumping on the trend. For instance, Beverly Loan Co., a pawn shop in Beverly Hills, Calif., opened New York Loan Co. in Manhattan, the Journal notes. “Small businesses needed loans more than ever before,” its CEO, Jordan Tabach-Bank, told the Journal. “Our bread and butter is the $20,000 loan to small-business [...]
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High-Class Pawnshops Fill a Lending Void
When Heather Robinson needed money to start a sports-apparel line, she turned to an unusual lender, offering a prized possession as collateral: a bronze nude torso sculpture. Ms. Robinson, who directs a Washington nonprofit, brought the 16-inch statue last month to a New York firm called Borro Inc., which immediately wired her $15,000. The interest [...]
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