An article that landed on the Sunday front page of the Detroit Free Press April 11th, gave an in-depth look at the pawn industry and how it works.  The article titled, "Pawn shops provide privacy, alternative to bank loans, credit" cited several stories of pawnbrokers' relationships with their community and highlighted the appreciation customers have for the unique form of credit pawn shops offer.  The report also explained how the pawn-business model is different from other types of non bank lenders , in that pawn loans don't put consumers in a debt cycle.  

The article touches on many aspects of pawn loans including interest rates, what kinds of items get pawned, how pawn shops have fared in the rough economy , the rise of pawn shops in upscale neighborhoods, and the new kinds of customers pawnbrokers are seeing their shops.

Tony Aubrey, owner of Motor City Pawn Brokers in Roseville, Michigan was prominently featured in the interview. "We are growing fast," Aubrey says. "We are the new kids on the block. We are nowhere near our peak. There is no other alternative. We are the alternative bank."


Read the full story: "Pawn shops provide privacy, alternative to bank loans, credit"

For more information from the pawn industry, please visit:
www.PawnShopsToday.com