Understanding a Pawn
January 2, 2019
For many people there is still a mystery around what a pawn really is. A pawn is a collateralized loan. In banking, the banker utilizes the 4 C’s (credit, capacity, character, and collateral) in making a loan decision. In an initial visit to the pawn shop, the pawnbroker focuses totally on the collateral or item that the person is pawning until a relationship is established. If the pawnbroker finds that the customer picks up their...
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