123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Putting Cash In The Hands That Need It In Tampa

Profile Picture
By Author: Christine Austria
Total Articles: 52
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The appraiser at the pawn shop held up the gold pendant with 22 cttw of diamonds , and informed Drew Blakely that he would pawn (loan) him $4,300.00 for his jewelry heirloom.

Blakely needed the money to make his monthly house payment. Pawning the pendant, the 32-year-old car salesman explained, would be a better deal than using a credit card.

"It's easier and faster to get a loan at a pawn shop in Tampa," said Blakely, who has pawned and bought back the same jewelry three times.

Blakely has plenty of company these days, as the slowing Tampa economy puts a drag on commerce. He is one of many caught in the downturn who are increasingly seeking out short-term loans to pay for basics such as groceries, rent, hospital bills and school tuition.

Among the most popular lenders in Tampa is a pawn shop named Jazz Jewelers & loan, The people flocking to Jazz Jewelers & Loan are a sign of an economy caught in a familiar bind. Last week came the news that Tampa economy skidded in the third quarter to post its first contraction in nearly six years.

But these days, Tampa’s industries from autos ...
... to airlines are bracing for cutbacks. The worldwide slump in travel and tourism, is likely to produce enormous losses.

Predictably, those hard times are spawning new business for the pawn industry here in Tampa, and Jazz Jewelers & Loan is in the middle of a major expansion.

The pawn centers are attracting people from all classes of society, making loans on everything from electronics to jewelry and even cars. As a rule of thumb, the loans equal about 50 percent of the value of the pawned item.

No question, Jazz Jewelers & Loan fills a need. Ever since Tampa’s housing crisis, banks have been slow to resume consumer lending. There's more of a cash culture here and people like the ease with which they can go to the pawn shop.

It's immediate, in cash, with little paperwork. They are competitive in the loan market.

Vast majority buy back items

Customers can pawn their goods for anywhere from 2 to 13 months. And 96 percent of the clients buy back their merchandise before the loan expires.

Jacob Crowley recently lined up in the lobby to sell a gold bracelet. He needed the money to help pay the hospital bill for his wife, who was expecting a baby and doesn't have health insurance.

He got about $300 for the bracelet, which was a wedding present for his wife. But this wasn't his first time at the pawn shop.

Hannah Maldonado said she seeks loans at least once a month. She went back to the Jazz Jewelers & loan recently to pay off a $100 debt on gold rings and necklaces she had pawned. She needed the money for her daughter's school expenses.

She, too, is intending to reclaim her possessions rather than give them up to the pawnbroker. "I don't want to lose them," said Hannah, 29, who sells a/c units for a living.

She said she would rather pawn her jewelry then ask relatives to lend her money, or put it on her credit card.

"Here they give you a good rate" Hannah said. "It's a safe way to get money fast in Tampa."


Pawnshop

Total Views: 467Word Count: 535See All articles From Author

Add Comment

Business Articles

1. Finding A Trusted Sustainability Consultant In Abu Dhabi
Author: Agile Advisors

2. Iso Certification In Dubai – Advantages For Business
Author: Agile Advisors

3. Best Forex Brokers List | Best Broker For Forex Trading 2024
Author: Top Forex Brokers Review

4. Celebrate Achievements With Customized, High-quality Awards From Trophy Deals
Author: Trophy Deals

5. Is 100% Company Ownership Possible For Expats In Saudi Arabia?
Author: jodonjo

6. We Are Hiring: Senior Executive - Indirect Taxation In Gurgaon!
Author: tanvir Khan

7. Ceratec Tower 1o8: The Eventual Fate Of Business Greatness In Balewadi, Pune
Author: Tarun

8. Enrofloxacin Manufacturer: Swisschemie
Author: Swisschemie

9. Ultimate Guide To Hotels In Mussoorie: Discover The Best Places To Stay, Including Hr Hotels And Resorts
Author: Hr Hotels and Resort

10. How Quickly Do Fast Cash Loans Online Pay Out Cash On The Same Day?
Author: Lucy Lloyd

11. Leading Digital Marketing Agency In Hyderabad And Unlock Your Brand’s Potential With Sanbrains Agency
Author: Sanbrains Seo

12. Celebrate Success With Customized Awards From Trophy Deals
Author: Trophy Deals

13. Title: Choosing The Right Humidity Stability Chamber Supplier For Your Manufacturing Needs
Author: bio gene

14. Complete Guide To Studying Mbbs In Poland
Author: Mbbs Blog

15. What Is The Process For Locating The Best Lender For Short Term Loans Online?
Author: Robert Miller

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: