Millennials Turning to Pawn Shop Loans
More millennials are finishing school and getting jobs in the real world. In addition, there are a many millennials quitting school to follow their dreams of starting their own business and selling their own products. Both groups are important to our nation but can also face a lot of money troubles along the way
It can be hard to get the start-up money needed for your business or to help with student loans. This is most true for recent college graduates who have a lot of student loans to pay back, and who are being turned away by banks and private lenders. Instead of giving up, millennials are turning to their nearest pawn shop for money help.
Benefits of Pawn Shop Loans
Pawn shop loans help millennials, like those who are living on their own, and who are forced to work a few jobs to make ends meet. This is because pawn shop loans do not do a credit check, and they offer easy repayment plans.
Since you only need to leave an item, like a guitar, a watch, or jewelry, in order to get a loan based on its value, you can get cash quickly and repay the loan when it works best for you!
It is important to remember that your loan will have interest added to it the longer you borrow the money, but there are no fees for repaying early. So, why do millennials like this? On one hand, they do not want to make their money situation worse by adding debt. On the other, pawn shop loans are quick and easy, so they can get the money they need right away and have more control over it.
Learn more about how these loans are good for millennials by visiting one of GEM Pawnbrokers’ many locations in New York City. Give us a call today at (718) CALL-GEM to find your nearest pawn shop.