New Breed of Pawn Shops Fills Business Lending Void

Traditional pawn shops are jumping on the trend. For instance, Beverly Loan Co., a pawn shop in Beverly Hills, Calif., opened New York Loan Co. in Manhattan, the Journal notes. 

“Small businesses needed loans more than ever before,” its CEO, Jordan Tabach-Bank, told the Journal. “Our bread and butter is the $20,000 loan to small-business owners who have to meet payroll or inventory demand.”

 

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