Pawn Shop loans can provide financial relief to those in need

These small loans can help put gas in your tank and food on your table amid record breaking inflation
Pawn shops seeing an increased interest in loans among customers
Pawn shops seeing an increased interest in loans among customers(KWTX)
Published: Jul. 24, 2022 at 6:19 PM CDT
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WACO, Texas (KWTX) - Despite the rising cost of items like gas, groceries and living expenses, many American’s wages have remained the same, causing a need for extra income when things are tight.

You get your paycheck and stick to your budget but soon realize you’re running out of funds.

With inflation costs at a 40-year high, this occurrence is becoming more common for people everywhere.

This is causing more people to resort to pawn shop loans for some quick cash relief.

“It makes it tough and difficult for people to pay their electric bill, their water bill, to get the rent paid, to put groceries on the table and that drives them to do something, to go get some more money and that’s where we’re there to help,” said CenTex Pawn owner, Cody Lewis.

In recent months, Lewis says his pawn shops have seen people’s interest in these loans increase as much as 30%.

Seeing customers bring in items from blenders to designer handbags all with the hopes of walking away with cash, Lewis believes, “if it has some value and we can put some money into it to help them out, we’ll do it.”

These pawn shop loans can range from $50 to $200 in some instances and can be all the difference for a family that needs to eat or take care of unexpected costs.

“You have your week or month planned out and then you have an incident occur where you have to replace an alternator or get a new battery and that causes them to have to make a decision to come in and get some money,” said Lewis. After being in the pawn business for more than 30 years, Lewis says he’s happy to be in a position where he can help those who need it, right now. “We are in position to help people keep their lives going.”

These pawn shop loans can benefit those with low credit scores or those just looking to stay financially afloat.

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