Pawnshops are helping New Yorkers to pay their bills

We understand that times are tough at the moment, and we are seeing this first-hand as many New Yorkers are heading into our stores to release cash from their belongings.

With inflation reaching some of the highest levels for 40 years and prices of necessities rising so much it is making it difficult for many families and individuals to pay their bills. And in times of need, GEM Pawnbrokers are here to help its communities get through the hard times.

For example, the Bureau of Labor Statistics says that food has risen by 91.4% and gas has increased by almost 20%! Moody Analytics estimates that consumers are spending an additional $445 each month making it incredibly hard for many to make their wages stretch to cover their outgoings.

So where do you go when you need cash

Pawn shops are traditionally a great place to sell your unwanted item or a place to go to raise cash when you need it from everyday items. And modern pawn shops aren’t just about jewelry and electronic goods anymore, there’s a huge range of items that you can use to raise funds including designer label goods, clothing, handbags, shoes, sneakers, belts and accessories.

And whether you want to sell or pawn your items, we will offer you a fair and competitive rate for the item and the loan.

Why choose a pawn shop loan?

Pawn shops are often not the first place that people think of when they need a loan, but what we have been finding is that when times get hard, a pawn shop loan can often be a popular choice.

There a several reasons why a pawn shop works for many people. Firstly, their loans are open to anyone, you don’t need a good credit rating (your rating won’t even be checked) and your rating won’t be impacted by the loan. The loan is quick and simple with many people walking out with the loan when they visit.

Almost everyone has something of value that they can use as collateral for a pawn shop loan that they won't miss or are happy to part with for a short time until they repay the loan, and it doesn’t need any other guarantees such as your home.

Come and see us

GEM Pawnbrokers have been helping people for over 70 years and are one of the largest pawnbrokers in New York, so you can be confident that we are the name you can trust. Each of our stores are supportive of the local community and will welcome you into the store.

We are here for you so call into one of our stores and see what cash you could raise today! We have 25 conveniently located stores across the New York City area including pawn shop Manhattan, pawn shop Queens, pawn shop Long Island, pawn shop Bronx and pawn shop Brooklyn.